SAN ANTONIO – AT&T Inc. has agreed to extend its naming rights deal for the San Antonio Spurs’ home arena just days before the NBA team is set to tip off its 50th season in the Alamo City.
In a move that may come as a surprise to some, the Dallas-based telecom giant will extend the deal to attach its brand to the Bexar County venue through the 2022-2023 season, according to a source familiar with the deal.
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Financial terms of the extension were not disclosed.
The original naming-rights deal for the East Side arena was struck in 2002 — before SBC rebranded as AT&T (NYSE: T) and later moved its headquarters from San Antonio to North Texas. That 20-year agreement paid out approximately $41 million.
Ricard Jenson, a professor at UTSA specializing in sports marketing and management, told me prior to confirmation that AT&T was extending its agreement that there could be suitors interested in a shorter-term contract.
“What I could see happening is more of a short-term deal, maybe something for five or 10 years,” he said.
In July 2021, AT&T confirmed that it had sold the company’s ownership stake in the Spurs for an undisclosed amount.
Editor’s note: This story was published through a partnership between KSAT and the San Antonio Business Journal.
Click here to read the full story in the San Antonio Business Journal.