Reports: Jones seeking more cash for Cowboys' stadium

By BYRON HARRIS

Banks are bellying up and General Motors is heading south.

Sports Business Journal says Cowboys' owner Jerry Jones is asking for $350 million in new loans, most of which would go for the new stadium.

Not exactly a sub prime loan for this Behemoth but in a troubled loan market, even big companies are having trouble finding money.

Jones met at his Arlington sales office last month with his main lender, Bank of America, and more than a dozen other banks to find more money for what is a gold-plated venture.

"I've spent a lot of money on the wow factor on this stadium to help create that interest in this venue," said Jones.

The potential problem - it's a different financial market now than when ground was broken.

Reports: Jones seeking more cash for Cowboys' stadium....

Jones has cash cow in new stadium, newspaper finds

The Associated Press

FORT WORTH, Texas — Dallas Cowboys owner Jerry Jones could more than make up for his share of the team's new $1.1 billion stadium through personal seat licenses and suite sales, according to a newspaper analysis.

If Jones sells all 55,000 seat licenses at costs ranging from $2,000 to $150,000, he could bring in $735 million without including the price of the ticket, the Fort Worth Star-Telegram reported in an analysis published Sunday.

Another $400 million is already guaranteed through the 200 suites sold at a minimum price of $100,000 a year, including game tickets, with a 20-year lease.

Jones is paying $750 million of the stadium's cost. The city of Arlington is providing most of the remaining $350 million through voter-approved bonds that will be paid back from portions of sales, hotel occupancy and rental car taxes. The stadium opens next year.

Personal site licenses are becoming a popular way for team owners to finance new stadiums. They are charged to season ticket holders for the rights to the seats and don't include ticket prices. Fans can finance the licenses over up to 30 years and are allowed to sell them on the private market.

Jones has cash cow in new stadium, newspaper finds....