It has been a tough week for Invesco. Just one day after New York, Colorado and federal regulators sued the Denver-based firm for improper trading, airwaves in Denver tossed around the question of whether the Invesco name should be erased from the Denver Broncos stadium title, Reuters reports.
The name "Invesco Field at Mile High," a licensing agreement that cost the company $60 million, may mirror the circumstances of the name "Enron Field," which is now "Minute Maid Park."
Invesco has said that the charges against it, which include market timing with hedge funds, are false. Individual investors hold an estimated $14.4 billion of Invescos $18.6 billion assets under management, The Denver Post reported. Many of those individuals are said to be ready to sell out their shares.
Ironically, individual taxpayers in Denver, who funded the stadium, will also be the ones who are considered when the decision about the name "Invesco" on their beloved football teams stadium will stay or go.