DENVER — Broncos owner and CEO Greg Penner said Tuesday the team remains focused on opening a new stadium in 2031 at the proposed Burnham Yard site. However, he acknowledged significant hurdles remain before the project can move forward.

Speaking after a Broncos training camp practice, Penner said he hopes the organization will be able to release renderings of the proposed stadium and surrounding mixed-use development soon. However, he emphasized that the large-scale project remains far from finalized.

"It’s a lot of moving pieces, and it’s complex," Penner said. "Our focus is squarely on the 2031 opening and trying to get that done, but it’s not going to be easy."

The Broncos took a significant step forward this week by completing the purchase of nearly 10 acres on the northern edge of the proposed district. The team paid $55 million for the parcels owned by SRM Concrete, according to real estate records. The acquisition gives the Broncos control of additional land needed for the broader stadium project.

"If we control it, we're moving very quickly," Penner said, echoing comments made earlier this month by team president Damani Leech. "When it's a collaboration with government entities or community stakeholders, it naturally moves more slowly. We really want to stay in Denver if we can and deliver a stadium in this market that is a vital part of downtown. But if you're doing a project in an area like that, it's just harder."

The Broncos have previously estimated construction of the stadium and the first phase of the surrounding district would take between 3½ and 4 years. To remain on pace for a 2031 opening, team officials have described breaking ground in 2027 as an aggressive but important goal.

While no firm deadline has been established for a final decision on the project, Penner indicated the organization is continuing to evaluate its options. "It's still a preferred site, but it's not finalized; we're going to be in that location," Penner said. "Obviously that's where we really want to be."

As negotiations and planning continue, the Broncos remain committed to exploring a downtown Denver stadium anchored at Burnham Yard, with the clock ticking toward their goal of opening the venue for the 2031 NFL season.