Back in 2004, the city of Arlington voted to approve a Texas-sized $325 million payout to bring Dallas Cowboys Stadium to town.
Twenty years later — and 10 years ahead of schedule — Arlington’s share of AT&T Stadium’s financing is finally settled, with the final $22.6 million payment made on Friday.
Overall, Arlington paid a total of $490,325,273 in principal, interest and fees for the stadium. According to city estimates, it saved about $151 million in interest and fees by paying off the debt early.
The 30-year project was originally budgeted for $650 million, with the city of Arlington and the Dallas Cowboys dividing construction costs.
D-FW Real Estate News
Yet when the stadium finally opened in 2009, total project costs topped $1.2 billion, with the team paying for additional expenses beyond the city’s contribution.
In a statement, Arlington Mayor Jim Ross applauded Robert Cluck, his predecessor at City Hall, and the voters for the initial decision to “invest in a world-class stadium [that] has created jobs, boosted our economy over the years and cemented Arlington’s reputation as a premier destination for sports and entertainment.”
Over two decades ago, residents approved a half-cent sales tax increase, a 2% hotel occupancy tax and a 5% rental car sales tax to pay for the city’s share of stadium construction.
Arlington generated about $55 million each year, through a combination of tax funding and revenue from the city’s 16 million annual visitors.
Refinancing and early redemptions allowed the city to save millions in interest and fees over the years; in the end, Arlington successfully paid off its initial 30-year debt investment in just 20 years.
Coming together to pay off stadium debt and bring a world-renowned sports and entertainment arena to the city of Arlington is a history that residents don’t mind repeating.
Back in 2017, voters approved to keep the funding sources — the half-cent sales tax, the 2% hotel occupancy tax and the 5% rental car sales tax — in order to fund the construction of Globe Life Field. Arlington’s share of the $1 billion-plus venue will cost the city $500 million in subsidies.
At least now, Arlington residents can cheer on the Cowboys and other attractions debt-free.
The 100,000-person stadium was selected as the host venue for nine 2026 FIFA World Cup games, and has hosted numerous high-profile sports and entertainment events since opening in 2009 — including Super Bowl XLV, two WWE WrestleMania events and Taylor Swift’s The Eras Tour.