In a stunning turn of events that sent both the sports and tech worlds into a frenzy, the Denver Broncos have reportedly rejected a jaw-dropping $1 billion advertising proposal from Tesla CEO Elon Musk. The deal, which would have made Empower Field at Mile High the first NFL stadium to feature an all-electric sponsorship package, was turned down by team owner Greg Penner — and his explanation left Musk completely silent.
According to insider reports, Musk approached the Broncos earlier this month with an ambitious plan: a decade-long Tesla branding deal that would not only rename sections of the stadium but also feature fully electric Tesla charging zones, autonomous shuttles for fans, and digital ad takeovers throughout the venue. The offer was described as “revolutionary,” one that could redefine how NFL franchises partner with tech giants.
However, Greg Penner, the Broncos’ controlling owner and chairman — who himself has deep ties to corporate America as the former chairman of Walmart — reportedly turned down Musk’s offer within 48 hours. Sources close to the team say Penner’s response was “measured but firm.”
“We are building something here that’s about legacy, community, and integrity — not just money,” Penner reportedly told Musk during a private call. “Empower Field carries meaning for our fans and our city. We’re not selling that for any price.”
That statement, insiders say, left Musk speechless. Known for his bold, often confrontational business style, the Tesla and SpaceX founder did not issue an immediate public response — a rarity for someone who’s typically vocal on social media.
The proposed partnership, according to documents reviewed by Sports Business Journal, would have included stadium-wide Tesla branding, exclusive charging stations for VIP ticket holders, and digital screens powered entirely by Tesla solar energy systems. In return, Musk was prepared to invest over $1 billion over 10 years, making it one of the largest sponsorship deals in U.S. sports history.
But for Penner and the Broncos’ leadership team, the decision wasn’t about missing out on money — it was about staying true to the city of Denver. Empower Field has been a symbol of community pride since 2019, and local fans reportedly supported the decision to reject Tesla’s bid. “We’re proud to keep the stadium name the same,” said one fan outside the facility. “It’s good to see an owner who puts loyalty above dollars.”
Industry analysts, meanwhile, are divided. Some believe the Broncos made a bold statement that reinforces brand authenticity and fan loyalty in a world dominated by corporate influence. Others argue that passing up $1 billion is “borderline crazy,” especially in an era when team revenues depend heavily on sponsorships.
Still, Greg Penner seems unfazed by the noise. “You can’t buy the heart of a team,” one Broncos executive said, summarizing Penner’s sentiment. “That’s what he told Elon — and that’s what he believes.”
For now, Elon Musk remains silent on X (formerly Twitter), while the Denver Broncos have earned widespread respect for their unwavering stance — proving that in Mile High country, values still matter more than billions.
