Sports Authority is still pursuing a “robust” sale process and is not fully liquidating just yet, attorneys for the sporting goods retailer told a federal bankruptcy judge on Tuesday.

Several parties have expressed interest in all or most of the Englewood-based company’s assets, attorney Robert Klyman told Judge Mary Walrath at a hearing in the U.S. Bankruptcy Court in Wilmington, Del.

“The liquidation word is not in our vocabulary,” Klyman said.

Sports Authority and its lenders reached an agreement with the debtor-in-possession financing, allowing it to continue to pursue the sales process, the attorneys said.

No offer came from a “stalking horse” — a potential buyer that would make a baseline tender offer for an auction — prior to the passing of the April 28 deadline, Klyman said.

However, “material parties” are continuing to conduct their due diligence in pursuit of a possible acquisition of assets, he said.

The hearing, which started at 8:30 a.m. local time, is ongoing. This story will be updated.

Last week, Sports Authority’s attorneys said the company would not emerge under a reorganization plan, but rather would pursue asset sales.

Walrath gave creditors a week to decide whether they’d prefer that company management handle a liquidation or a court-appointed trustee would oversee sales.

In the sale process, the assets would go to the highest bidders.

Likely participants in that process include sporting goods retailers Dick’s Sporting Goods, Modell’s and Academy Sports + Outdoors, analysts have said.

The CEO of rival Dick’s Sporting Goods said the company would be “very aggressive” in trying to siphon business from the wounded Sports Authority. The company last month laid out a plan to increase marketing spend and possibly to target leases that were marketed for sale.

In addition to leases and intellectual property, the remainder of Sports Authority’s naming-rights contract with the Denver Broncos’ stadium in Denver also could be up for grabs.

Sports Authority assumed the $120 million Mile High Stadium naming-rights contract vacated by Invesco Ltd. in 2011, when there were 10 years left on the 20-year deal. The agreement include graduated annual payments split 50-50 between Denver’s Metropolitan Football Stadium District and the Denver Broncos.

The district and the Broncos have remained on the sidelines through the Chapter 11 process, issuing statements expressing their commitments to their respective partnerships and agreements with Sports Authority.

However, district officials said they would review the agreement with Sports Authority if the contract was broken. If a $3.6 million payment is not made 30 days after its Aug. 1 due date, the district could terminate the contract, according to the agreement.

The Broncos have declined to provide their agreement with Sports Authority but said the contract was structured in a similar manner.

Sports Authority, saddled with debt and an inefficient operations base, filed to reorganize under Chapter 11 bankruptcy protection on March 2.

In bankruptcy, the company started down a “dual-path” process: Either lop off a chunk of the $1.1 billion debt, slim down and emerge a leaner business; or sell the business as a whole or in parts.

The initial thinning out included: Cutting 100 jobs, mostly corporate roles; eliminating the team sports division; shuttering more than 140 of 463 stores; and closing two of five warehouses.The moves were expected to cost the jobs of 3,400 employees of Sports Authority’s 15,000-person workforce.

However, vendors were none too pleased about the store-closing sales that got under way in March. Many sued Sports Authority seeking reimbursement for the consigned goods sold in liquidation.

Sports Authority counter-sued.

Landlords also were irked that the filing came a day after March rents were due, resulting in some savings to the company but a $27 million loss to property owners, the Wall Street Journal reported.

Sports Authority’s deterioration marks the end of a nearly century-old sporting goods empire in Denver.

In 2003, Gart Sports merged with Florida-based Sports Authority in a $500 million. Three years later, the company agreed to be acquired by shareholder Leonard Green & Partners in a $1.3 billion leveraged buyout.

Alicia Wallace: 303-954-1939, awallace@denverpost.com or @aliciawallace