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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 agreement on the naming rights deal was reported on Monday by 105.3 The Fan.
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.
It is not yet known what the financial arrangement of his agreement is.
Cowboys owner Jerry Jones has long been ahead of the NFL curve in terms of revenue streams, having cut groundbreaking sponsorship deals in the early 1990’s with Nike, Pepsi and American Express in such a way that the league tried to block the arrangements.
The Cowboys are expected to reveal today how AT&T will be included in the new name. Jones in the past has talked of the value of “Cowboys Stadium’’ as its own brand.
Said Jones in February 2011: “I have always said that unless we are ready in the right way with the right partner, then Cowboys Stadium is the way we want it.”
It appears the Cowboys now have the right way with the right partner.
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