Dallas Cowboys stadium woes blamed on economy

I promise, as soon as this ‘economy’ thing stops effecting every facet of the sports world, I won’t do a post on it every other day.  Today’s economy mishap is the Dallas Cowboys stadium.  Yes, that Dallas Cowboys stadium; the $1.1 billion dollar stadium with the $1.2 million dollar “glory park” surrounding it.  The stadium is supposed to open in June of this year, and needless to say, the economy is slowing down the development of any amenities around the stadium.  From the Dallas Morning News,

The new Dallas Cowboys stadium was predicted to transform its surroundings into a vibrant urban center comparable to Times Square or at the very least Victory Park.

But the bright lights, restaurants, hotels and pedestrian-friendly shopping district are nowhere to be seen. The severe recession has sabotaged much of the planned development around the $1.1 billion stadium…

The 1.2 million-square-foot Glorypark retail, residential and entertainment project from Texas Rangers owner Tom Hicks is being redesigned after nine months on the shelf and has no timeline yet. Just a few blocks from the Cowboys stadium, Glorypark was expected to be a center of activity on game days and during the week of the Super Bowl.

Arlington supporters of the new Cowboys stadium hoped that it would be a catalyst for redevelopment in an area dominated by parking lots, motels, auto sales and repair and retail targeting immigrants. The mixed-use developments and pricey condominiums planned for the area would have targeted the more affluent football fans who could afford tickets that cost as much as a few hundred dollars and seat licenses that cost thousands.

That’s less than stellar news.  Obviously, the planned development won’t be done before the stadium’s opening in June, but what of bigger events, like the Cotton Bowl in 2010?  Or the Super Bowl in 2011?  Arlington runs the risk of losing out on some major revenue for the city if the glory park isn’t completed by the time we reach some of these large revenue stream events.  This is particularly important because the Cowboys are keeping a majority of any revenue generated inside the stadium, and the city needs money generated by the development to help pay off the $325 million they put towards the building of the new stadium.

And while we’re at it, what’s become of the Dallas Cowboys record setting amounts for their naming rights that I discussed previously?  The economic downturn has Jerry Jones fielding low-end offers, and its unlikely that the Cowboys will have any naming rights deal in place before this year is over.

Anyone know how much stimulus money the city of Arlington is requesting?  Just curious.

Dallas Morning News — So far, development isn’t cropping up near Cowboys’ new stadium

Sports Business Digest — Cowboys Stadium Names — Jerry Jones Field?

Tags: city of Arlington, Dallas Cowboys, Dallas Cowboys new stadium, glory park, naming rights

Category: Football