Colorado cancels over $100M BEAD award to Maverix Broadband over fund misuse
The Colorado Broadband Office canceled more than $100 million in BEAD grant funding previously awarded to local ISP Maverix Broadband after finding misuse of funds. The cancellation marks a setback for Colorado's broadband deployment efforts.
Providers named: Maverix Broadband
Award amount: $100.0M
What this means for BEAD compliance
Maverix Broadband and other Colorado BEAD subgrantees and prospective applicants whose award locations now may be reallocated.
The cancellation indicates Maverix failed financial controls and milestone-based fund disbursement requirements, triggering review of its internal control systems, procurement records, and expenditure tracking tied to the $100M award. Colorado's broadband office will need to document the clawback, reconcile obligated funds, and determine BEAD-eligible location reassignment, which raises risk of audit findings under single-audit and internal-control requirements for the state program. Other subgrantees in Colorado should expect heightened scrutiny of milestone payment compliance and financial reporting given the state's demonstrated willingness to cancel awards for fund misuse.
Opportunity: Other Colorado ISPs may apply for or be awarded the reallocated locations once the state redistributes the canceled $100M in funding through a subsequent award or rebid process.
Analysis by BeadComply Compliance Intelligence, grounded in the BEAD requirements registry.
Won a BEAD award in Colorado? See Colorado's program status and compliance requirements →
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