ENGLEWOOD, Colo. — The Denver Broncos are building a new home.

The team announced plans on Tuesday for a new team headquarters and training facility in Dove Valley on the same property that currently houses it. The new development will expand the current facilities by about 30% at a cost of $175 million. Construction will begin this spring and is expected to be complete before the 2026 NFL season. The Walton-Penner Ownership Group will entirely finance the new facilities.

“Our vision is to create a new home for the Denver Broncos that reflects our values of winning and teamwork with a modern Colorado design,” Broncos Owner & CEO Greg Penner said. “While we considered several options to modify our current facility, we decided to do this the right way by building a new player-centered headquarters with an efficient layout and the latest amenities. Having both our football and business operations on the same campus will foster a championship environment in pursuit of our goals on and off the field.”

The Walton-Penner Ownership Group toured some of the NFL’s newest state-of-the-art facilities—as well as other pro sports teams’ like the Golden State Warriors—as they designed the new home of the Broncos. The new building will expand the players’ space, like the locker room, weight room and meeting rooms, by about a third. The larger building will also create space to move about 70 business employees from Empower Field to the new Broncos headquarters.

The new building will be built on the west side of the practice fields and across from the current building, replacing the berm where fans watch training camp practices. It will connect to the Pat Bowlen Fieldhouse. The Broncos will continue to run their operations from the current building until construction is completed. At that point, the existing building will be demolished, and fans will view practice from that location. The Broncos will provide temporary seating in the interim.

“This is a transformative time for the Denver Broncos led by the Walton-Penner Family Ownership Group that has demonstrated a deep and impactful commitment to investing in world-class facilities,” Broncos President Damani Leechs said. “We are thrilled to share plans for a new team headquarters with Broncos Country, bringing together our organization and contributing to a positive culture that supports the No. 1 goal of winning. The combination of layout, collaborative spaces, flexibility and size will place the Broncos’ new training facility among the very best in all of sports.”

The first floor of the building will be home to 21,000 square feet of player spaces. The second floor will house football operations offices. Business operations will take place on the third floor.

“It looks incredible,’’ Broncos guard Quinn Meinerz said of the new facility. “The ownership group has been nothing short of incredible here. They’ve consistently invested in not only us as the players but also with the fan experience at the stadium. So, it is incredible to have that continued support from our ownership group. The pictures look really cool, and I can’t even imagine what it’s going to look like.”

Those investments include a tunnel to the fieldhouse that will reduce the time it takes for the players to arrive at practice and keep them out of the cold. The new weight room will be near the locker room, increasing efficiency. An underground parking garage is also on the way.

“It’s a testament to the ownership group and how much they value us and how much they’re invested towards the team in making sure the players get the best of the best,’’ cornerback Pat Surtain II said.

The current facility was built in 1990, with the Pat Bowlen Fieldhouse added in 2014. A new facility has been a topic of discussion in recent years, with speculation that the Broncos could find a new location with space for a new stadium. The Broncos’ lease with Empower Field runs through the 2032 season, so a new stadium is probably a decade away at least.

The Broncos partnered with HOK (a global design, architecture, engineering and planning firm) and Rockwell Group (an international, multi-disciplinary architecture and design firm) to design their new training facility.