The Dallas Cowboys have set 2028 as the start date for a $1 billion renovation program at AT&T Stadium, backed by a combination of team funding and municipal support. According to local officials, the NFL franchise plans to commit $750 million toward the stadium overhaul, while the town of Arlington will provide $273 million through special revenue bonds issued over a 20-year period.
Team representatives and Arlington leaders indicated that the upgrade program will not focus on highly visible or dramatic new features. Instead, the emphasis will be on behind-the-scenes enhancements, particularly related to safety and security. Those improvements are expected to roll out in phases, with work extending until 2043, creating a long runway of capital investment around the facility.
The public contribution will be financed through special revenue bonds, a structure that ties repayment to designated revenue streams rather than broad-based taxes. The bond program provides Arlington with a defined, long-term framework for meeting its share of the renovation costs, while allowing the Cowboys to move ahead with a substantial modernization of the venue without a full upfront cash outlay from either party.
Beyond the construction activity, local leaders are highlighting the ongoing economic significance of the Cowboys to Arlington. Citing reporting from The Dallas Business Journal, officials noted that Arlington Mayor Jim Ross estimates the team generates approximately $324 million in annual economic impact for the area. Over a 30-year horizon, that impact is projected to exceed $9 billion, underscoring the rationale for continued public investment tied to the franchise and its stadium.
The current renovation financing follows an earlier round of public support for the original construction of AT&T Stadium. Arlington voters approved a bond package in 2004 to help fund the initial development, and the first bonds associated with that package were issued in 2005. The city has reported that it retired that initial bond debt 10 years ahead of schedule, which it says resulted in more than $150 million in savings on interest and fees.
City officials have framed the early payoff of the original stadium bonds as evidence of strong performance from the project-related revenue streams that backed the debt. With that initial obligation now cleared, Arlington is pivoting to a new, multi-decade investment plan aligned with the Cowboys’ long-term presence at AT&T Stadium. For stakeholders in and around the venue, the renovation schedule through 2043 signals an extended period of operational continuity, sustained event programming, and continued integration of the stadium into the region’s economic base.
