It appears that Jerry Jones is not having the best off-season. An important off-season that directly heads into the opening of his new billion dollar stadium in Dallas.
Jerry Jones might have to settle on a temporary name for his stadium and thus a lot less money than he was counting on. The original valuation for the naming rights for the new Dallas Stadium was somewhere in the $300 million range. Unfortunately, for Jerry Jones, a big-time blockbuster deal is probably unlikely under the current economic conditions.
AT&T was rumored to be the front runner for the lucrative deal but, as of today, nothing is near ready to be signed. AT&T is one of the world’s largest marketers spending over $1 billion annually.
However, AT&T announced 12,000 layoffs, or about 4% of there workforce, this past December. The company has since froze salaries for an additional 120,000 employees. At this point, it might be hard to justify another half billion in marketing expenses.
Jerry Jones isn’t completely loosing his pants with this new stadium.
The Cowboys have other major sponsorship deals already in place. They have a 10-year deal with Bank of America, rumored to be worth $40 million. Also a 12-year deal with Miller which could be worth nearly $100 million.
As of now, the NFL record is the $310 million sponsorship deal for Reliant Stadium in Houston. That deal averages out to $10 million per year and expired in 2032.
Jerry Jones would love to break the $400 million mark. Experts say that the only way this will happen is with a 30 or 40-year deal.
