Denver Broncos sales executives have been very busy since news broke that Peyton Manning was coming to town.
Demand for the Broncos premium seating at Sports Authority Field at Mile High have been so high the organization is planning to renovate the stadium to create more suites, according to Forbes.com.
The stadium has 130 total suites in which the team tries to lease out 115 of them, with 15 left for game day purchases. Last season the Broncos left 20 suites open for game days because nobody bought the leases for the season.
The suites cost an average of $115,000 per season but the Broncos are betting they will be able to lease them all plus six to eight more this season. The Broncos plan to convert two 32-person party suites into six to eight mini suites and lease per season for $60,000. The team will generate an additional $276,000 of revenue per season.
Ryan Barefoot, Broncos' senior director of premium seating told Forbes.com, “We knew we’d be busy,” even when (Manning) came out for a visit a week before he signed, we received quite a buzz. People calling in saying what do you know, what do you hear? I need to get my tickets. So anyone who was on the fence, that was a budge in the right direction.”
The Broncos are still waiting on permits and estimates on the total costs for the renovations.
The Broncos began to see an increase in suites sales and club level seats when the Broncos led by quarterback Tim Tebow won six straight games and beat the Steelers in the playoffs.
Club seats are sold out for next year. “We were on pace with Tebow, but when Manning signed, we sold out,” Barefoot said.