Report: Cowboys nearing stadium naming rights deal with AT&T

Forbes recently ranked the Cowboys as the NFL's most valuable franchise. (Jed Jacobsohn/Getty Images)

The Cowboys are nearing completion of a stadium naming rights deal with AT&T, according to a FOXSportsSouthwest.com report.

The Cowboys are reportedly seeking $25 million a year for the rights, more than the 49ers received from Levi Strauss for their new stadium.

Cowboys Stadium, which cost $1.1 billion, opened in 2009 and instantly became famous for its distinctive 60-yard long center-hanging video board. It has never had a naming sponsor. The stadium has hosted Super Bowl XLV, the 2010 NBA All-Star Game, regional NCAA basketball tournament games and international soccer matches, and will be the venue for the 2014 NCAA men's basketball Final Four.

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Forbes recently estimated the Cowboys' value at $2.1 billion, making them the NFL's most valuable franchise.

From FOXSportsSouthwest.com:

The framework of the arrangement – discussed with the telecommunications giant since the $1.2 billion Cowboys Stadium opened four years ago – once centered on a $25 million-a-year fee. A source said a Farmers Insurance bid of $700 million for a proposed new stadium in LA and the San Francisco 49ers’ recent 20-year deal for $220 million "re-set" the framework for conversations. The source also confirmed that the naming rights will go into effect for the 2014 season. Said Jones in February 2011: "I have always said that unless we are ready in the right way with the right partner, then Cowboys Stadium is the way we want it."

It’s not yet known how AT&T will be included in the new name. Jones in the past has talked of the value of “Cowboys Stadium’’ as its own brand.