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Wednesday June 11th, 2014

Oklahoma and Texas fans exchange pleasanteries during last year's game(AP Photo/The Daily Texan, Chelsea Purgahn) Oklahoma and Texas fans exchange pleasantries during last year's game. (AP Photo/The Daily Texan, Chelsea Purgahn)

The Red River Showdown between Oklahoma and Texas is staying at the Cotton Bowl in Dallas through at least the 2025 season after the two schools and the city agreed to extend their deal.

A previous agreement was set to expire in 2020 after the schools agreed to keep the game at the stadium after upgrades were made to the facility. The renovations cost $57 million, which added 16,000 more seats and a new scoreboard.

Each school receives direct payments of $500,000 for playing in Dallas, as well as a split of the ticket sales.

"The schools appreciate the venue," Dallas civic leader Pete Schenkel told the Dallas Morning News. "It's more of an event than it is a game."

"Dallas is … committed to ensuring the game stays here at Fair Park well beyond 2025,” Dallas mayor Mike Rawlings said. “Dallas, Texas, is the home of the Red River Rivalry.”

Oklahoma and Texas have played at the Cotton Bowl since 1932, and the Longhorns lead the series 46-35-4. Texas beat Oklahoma 36-20 in last year's game. MANDEL: O’Bannon v. NCAA, day two: Roger Noll fields questions about competitive balance

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