The Denver Broncos announced on Wednesday that they have have assumed the contract for the naming rights to Sports Authority Field at Mile High from the Metropolitan Football Stadium District, pending the approval of the court.

While there is still no timetable for finding a new partner to take over the naming rights, the partnership will not only help speed up the process, but will also help find the best possible long-term partner.

“It was important for us to step up and assume this contract to expedite the shared goal we have with the Metropolitan Football Stadium District of finding a new naming rights partner,” Joe Ellis, Denver Broncos president and CEO, said. “Together with the MFSD, we understand how important naming rights are to the future of our stadium.”

By taking on the contract, the revenue generated from the naming rights will be split 50-50 between the Broncos and the MFSD, but the partnership will aslo generate more sponsorship elements.

“This will allow the District to work closely with the Broncos to secure the best possible outcome for a new naming right partner, said Ray Baker, chairman of the MFSD. “The District looks forward to working with the Broncos over the next weeks and months to secure the best deal.”

Sports Authority Field at Mile High will remain the name of the stadium until an agreement with a new naming rights partner has been reached.