News: Cowboys Stadium officially renamed AT&T Stadium; Vid Post #30

[WoodysGirl]

July 25, 2013 9:13 AM

ARLINGTON (CBSDFW.COM) – The Dallas Cowboys have reached a stadium-naming-rights deal with AT&T, and team owner Jerry Jones – who departed the team’s Oxnard, California training camp hurriedly last night – will oversee today’s noon press conference at Cowboys Stadium in Arlington.

The framework of the arrangement – discussed with the telecommunications giant since the $1.2 billion Cowboys Stadium opened four years ago – once centered on a $25 million-a-year fee. A source said a Farmers Insurance bid of $700 million for a proposed new stadium in LA and the San Francisco 49ers’ recent 20-year deal for $220 million “re-set” the framework for conversations. The source also confirmed that the naming rights will go into effect for this season.

Read the rest: http://dfw.cbslocal.com/2013/07/25/cowboys-finalize-att-naming-rights-deal-presser-today/

 

[theogt]

$$$$$$$$

 

[WoodysGirl]

$$$$$$$$

You forgot the sound effects...

*cha-ching*

 

[DogFace]

Don't like it. At all. Is what it is.

 

[Doomsday101]

This is a good move and long over due for the Cowboys organization.

 

[Future]

Don't like it. At all. Is what it is.

Jerry was eventually going to sell the naming rights...it could have been far, far worse. I'm ok with AT&T

 

[panchucko]

I don't know how much the deal is worth, but you have to admire Jerry for taking his time and making sure it was right. I can't imagine how much money he didn't make the first 4 years of the stadium.

At least it won't be Cowboys in the Tostito Bowl or some other wild thing.

 

[Cowboys22]

The framework for this deal was done 4 years ago. AT&T put it on hold because at the time the economy had tanked and they were worried about their public image. This thing is probably going to be at least $30 million a year, be much more than just the naming rights, and Cowboys will probably still be in the stadium name.

 

[LatinMind]

Well this stadium is paid for lol. Jerry Jones hate him or love him is a genius. I dontagree with everything he does, but Im glad he's the owner of the Cowboys. Guy has turned a 140 million dollar investment in a 2.1 billion dollar homerun.

Alot of people say Jerry doesnt know what he's doing as a GM. Point to Jimmy being the success. Jerry fired a legend in Landry the same day he hired Jimmy, and everybody thought the idea was stupid and would never work. And im sure nobody that followed the cowboys back then liked this move either.

 

[Direwolf63]

I wonder if the company cell phones are using Verizon?

 

[reddyuta]

Will jerry give Arlington its money back?i think not.

 

[Bowdown27]

AT&T is all over the stadium already so it makes sense but its going to be weird hearing "AT&T cowboys stadium"

 

[Zordon]

Does Eli approve?

Sorry I couldn't help myself.

 

[Denim Chicken]

I was hoping Nationwide would have bought the rights. I think that would have sounded better.

 

[DallasJ7]

A bit disappointing, as I feel there's something unique to having one of the few non-corporate stadium names. But obviously Jerry isn't going to let free money pass by while everyone else cashes in, and that's fair enough. Just please, for the love of god, keep Cowboys in the name. AT&T Cowboys Stadium isn't so bad.

 

[Doomsday101]

Will jerry give Arlington its money back?i think not.

City is making money off the stadium

Spurred by record sales tax revenue, the city of Arlington, Texas, is “poised to pay off a significant portion of its $325 million Cowboys Stadium debt years early, a move that is expected to save taxpayers at least $64.5 million,” according to Susan Schrock of the FT. WORTH STAR-TELEGRAM. Arlington voters in ’04 “approved a 30-year, $325 million bond package to help build the $1.15 billion stadium.” The bonds are “being repaid with a half-cent sales tax, a 2 percent hotel occupancy tax and a 5 percent car rental tax.” That revenue is "coming in higher than expected.” Arlington Assistant Dir of Fiscal Policy Mike Finley said that the city at a minimum is “required to pay about $21 million on the debt every year, but the half-cent sales tax alone is generating about $25 million a year.” From ’05-11, Arlington “collected $35.2 million more in stadium revenue than what was required.” City Mayor Robert Cluck said that the city’s economy is “doing so well that he expects the entire stadium debt to be paid off 12 to 15 years early” (FT. WORTH

http://www.sportsbusinessdaily.com/Daily/Issues/2012/12/03/Facilities/Cowboys-Stadium.aspx

 

[AsthmaField]

I was hoping Nationwide would have bought the rights. I think that would have sounded better.

It could have been something really dumb like "Go Daddy", so I'm OK with AT&T.

 

[Section446]

This means my season tickets should be cheaper going forward, right, right?

 

[JohnsKey19]

The genius of this perhaps accidentally is the stadium has been known as only Cowboys Stadium long enough that most people will continue and always refer to it as such.

As far as the choice of AT&T, can't imagine many stronger corporations than that...

 

[Phoenix]

I'm totally cool with this, as long as the name becomes "AT&T Tom Landry-Cowboys Stadium"