Dallas Cowboys closing in on AT&T Stadium lease extension

The Cowboys and the City of Arlington are in the process of extending the lease for the team to continue playing at AT&T Stadium.

“The City of Arlington maintains a strong, ongoing partnership with the Dallas Cowboys regarding AT&T Stadium events and operations, and we look forward to continuing that relationship in the future,” Susan Schrock, managing editor of the office of communications for the city, said in a statement on Friday afternoon. “Stay tuned for further details.”

The Cowboys signed a 30-year lease in 2009, with it scheduled to end in 2039. Terms of the lease extension are not known, but Arlington mayor Jim Ross told the Fort Worth Star-Telegram editorial board Thursday that it would run until 2055.

In the original lease agreement the Cowboys signed with the city, there are several renewal options for guaranteed annual rental payments of $1 million for the first 10 years and $1.25 million afterward. The lease agreement also provides an option for the Cowboys to purchase the complex from the city at the end of the initial lease term and each renewal option thereafter.

A yearly stadium rent/naming rights fee of $2.5 million is paid to the city by the Cowboys.

Arlington’s city council has a scheduled meeting April 21.

“We are always working with the city to make great things happen,” Cowboys senior vice president of communications Tad Carper said Friday.

The Cowboys have spent $500 million on upgrades to AT&T Stadium since it opened, including $350 million last year.

Last August, Arlington announced it redeemed $84.5 million of its AT&T Stadium debt 10 years earlier than projected, saving more than $150 million in interest and fees.

AT&T Stadium is considered one of the top NFL stadiums. It has hosted a Super Bowl, NBA All-Star Game, College Football Playoff championship game and has become the new home for the Cotton Bowl Classic. It will also host FIFA Men’s World Cup matches this summer, the NHL’s Stadium Series game next season and the Men’s Final Four in 2030.

While the Cowboys and the City of Arlington are extending their relationship, the Dallas Mavericks and Dallas Stars are considering leaving American Airlines Center in Dallas. The Stars are exploring a move to Plano and the Mavericks are looking at several areas of Dallas to build a basketball-only arena.