(by Peter Van Bruggen)
Invesco Funds Group was decided to merge to AIM Investments family. Denver football stadium can get new name.
Chares Brady, a chairman of the holding company owning Invesco and AIM informed merge was in the process.
The problem with the stadium appeared immediately afterwards as, under the terms of a contract with the Metropolitan Football Stadium District, Invesco couldn’t rename the stadium unless it (Invesco) is bought, merged or reorganized.
"The district has not been contacted by Invesco Funds Group to indicate any changes in the status of the terms of the agreement," said Matt Sugar, a former spokesman for the stadium district.
Officials do not expect the stadium to be renamed, they say. AIM confirms the information. "The name is Invesco Field at Mile High and that is where it stands," said Ivy McLemore, an AIM spokesman.
Jon Zeschin, once a marketing director at the funds group, who helped run the name change (Financial Programs to Invesco), considers trading abuses that resulted in a $451.5 million settlement with regulators “killed the Invesco Funds brand.” Even it is useful for the market, the stadium shouldn’t change the name as it may “reopen old wounds in what was one of the country’s most contentious naming deals,” said David Carter, principal of the Sports Business Group in California