Arlington pays off AT&T Stadium debt early, saves $150M in interest
ARLINGTON, Texas - The City of Arlington will be free of its debt for AT&T Stadium this week, a full decade ahead of schedule.
The fast-tracked payoff has saved the city over $150 million, they said in their Wednesday release.
Arlington pays off AT&T Stadium
The city said the debt accrued in their $325 million contribution to the project, taken on in 2005, was intended to be paid off over 30 years. With a final payment of $22.6 million, the city will be free of the burden far ahead of the 2035 goal.
The payment will officially be made on Friday, Aug. 15.
In total, the city says they paid $490,325,273 in principal, interest and fees for the stadium. Because the debt was repaid a decade early, Arlington’s costs were nearly $151 million less than what was projected when the 30-year debt was first issued in 2005.
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What they're saying:
"As we celebrate this milestone, it’s important to acknowledge former Mayor Robert Cluck’s vision to bring the Dallas Cowboys to Arlington. His foresight, and the Arlington voters’ support to invest in a world-class stadium, has created jobs, boosted our economy over the years and cemented Arlington’s reputation as a premier destination for sports and entertainment," Mayor Jim Ross said. "The iconic AT&T Stadium has hosted an impressive list of events in its first 16 years, and we look forward to even more record-setting concerts and games in our future."
What's next:
The half-cent sales tax, the 2 percent hotel occupancy tax and the 5 percent rental car sales tax allocated towards the stadium payments will remain in place, the city says.
The funds will now go toward Globe Life Field construction, as approved by Arlington voters in 2017.
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AT&T Stadium history
Dig deeper:
The AT&T Stadium replaced the Cowboys' previous home, Texas Stadium in Irving, which hosted America's Team from 1971 to 2008. Texas Stadium was demolished in a controlled implosion on April 11, 2010.
The Dallas Cowboys were intended to pay off the remaining half of the planned $650 million project. The stadium instead clocked in at more than $1.2 billion by the time it opened in 2009, and the sports organization covered the additional expenses.
Since then, the 100,000-capacity stadium has hosted high-profile events, including Super Bowl XLV, WWE WrestleMania events, and Taylor Swift's The Eras Tour.
In 2026, the AT&T Stadium will host nine FIFA World Cup games.
The Source: Information in this report came from the City of Arlington.