Jerry Jones’ massive $295 million plan gets approval from NFL owners with AT&T Stadium set for renovation
Jerry Jones is set to renovate AT&T Stadium, the home of his Dallas Cowboys. But this renovation isn't just a slight touch-up, it's a plan worth an estimated $295 million. Although Jones can financially afford to pay for those renovations out of pocket, he chose to go another route.
At the owners' meeting outside of Dallas, Texas, this week, Jerry Jones asked the other 31 NFL team owners for approval. as well as to fund the renovations using the visiting team share waiver request, which uses money from the other NFL teams' shared gate revenue. Essentially, Jones and the Cowboys asked the other team owners to help fund the renovations to AT&T Stadium, and they all approved.
Michael Gehlken, the Dallas Cowboys reporter, stated that the NFL owners approved the plan on Wednesday afternoon.
NFL owners approved today the Cowboys’ plan to devote $295M toward upgrades at AT&T Stadium, person familiar with the situation said. Vote happened in nearby Las Colinas.
The AT&T Stadium renovation plan is not a total overhaul, but rather a way to freshen up the stadium. VIP areas and suites will be upgraded, as will the technology throughout the stadium. Behind-the-scenes aspects of the stadium will also receive an overhaul.
These plans come ahead of a possible bid for the 2026 World Cup final. The United States will host the World Cup in 2026 and play in 16 cities across the country. AT&T Stadium is being considered among other NFL stadiums to host the World Cup final.
AT&T Stadium's capacity can expand to over 100,000 fans, making it an ideal location for the World Cup final.
What is Jerry Jones' net worth?
Jerry Jones bought the Dallas Cowboys in February 1989 for $140 million from former owner H.R. "Bum" Bright. The former owner sold the team because he was no longer making a profit and was said to be losing approximately $1 million per month.
After more than three decades of owning the team, the Cowboys are now worth approximately $8 billion, according to a Forbes poll in August 2022. The Cowboys are ranked as the most valuable sports franchise in professional sports.
Jerry Jones’ net worth skyrocketed in the latest annual data by #Forbes while the Dallas Cowboys financially lead more than ever as the world’s most valuable team. #DallasCowboys bvmsports.com/2022/10/05/jer…
As for the team owner, his net worth is currently $14.1 billion, which ranks him among the top 200 richest people in the world. His team's yearly revenue grosses over a billion each season, making it one of the most successful sports organizations in the world.