DENVER (KKTV) - The Denver Broncos announced on Tuesday that Burnham Yard is the preferred site for a new retractable roof stadium for the team, which they say they hope to have completed within the next handful of years.

The former railyard is about a mile from Empower Field at Mile High. In a letter signed by Broncos owners Greg Penner and Carrie Walton Penner, Denver mayor Mike Johnston and Governor Jared Polis, they say the stadium will serve to anchor a “dynamic mixed-use district” at Burnham Yard.

According to the announcement, the Walton-Penner Family Ownership Group will privately fund the new stadium “and work with the community, city and state to reconnect historic neighborhoods--with no new taxes.”

According to the Broncos, the team has “conceptual agreements” with the state

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