The home of the Dallas Cowboys will now officially be "AT&T Stadium," according to owner Jerry Jones during Thursday's press conference at the stadium. The Cowboys and the telecommunications corporation reached an agreement after rumors surfaced in the last few weeks that they were negotiating the deal.
The two entities had reportedly been trying to work out a naming rights deal in 2008, but those ultimately fell through. AT&T already has naming rights in MLB (AT&T Park for the San Francisco Giants) and NBA (AT&T Center for the San Antonio Spurs), so this new deal will give the company naming rights in three professional leagues.
AT&T moved its headquarters from San Antonio to Dallas in 2008, but a faltering economy forced it to cut jobs and ultimately stop pursuing naming rights with the Cowboys. Had a deal been struck then, it could have been worth between $10 million and $18 million per year to the Cowboys, according to the Star-Telegram. Instead, they simply kept the name as Cowboys Stadium.
Five years later, they have reached an agreement to call their home AT&T Stadium.
The city of Arlington will also receive 5 percent or up to $500,000 per year.