The agreement calls for the Dallas Sports Commission and Dallas Tourism Public Improvement District to increase the game fees to each school and the City of Dallas has agreed to an estimated $140 million, two-phase renovation project for the Cotton Bowl.
The renovations are aimed at improving the fan experience, including widening the concourses and adding escalators, renovating concessions and restrooms, plus increasing the number of hospitality areas and premium environments.
The first phase of the project, involving the west side of the stadium, is expected to be completed in time for the 2026 game while the second phase, involving the east-side of the stadium, is to be completed by the 2034 game.
"The relationship between the storied Allstate Red River Rivalry and the venerable Cotton Bowl is one-of(-a)-kind regardless of sports," OU athletic director Joe Castiglione said in a release. "Our new agreement guarantees this historic legacy of the University of Oklahoma and the University of Texas at the State Fair of Texas will stretch into a second century.
"Millions of fans throughout the years have cheered, in-person, for the Sooners or Longhorns on what's become almost sacred ground. It only makes sense for us to do all we can with our partners to keep that tradition alive but also continue to improve upon the experience and access for our fans."
The rivalry began in 1900 and has been played at a neutral site since 1912. OU and Texas have met at the State Fair since 1929 and played in the Cotton Bowl Stadium since its completion in 1930.
"It is the most unique setting in all of college football," State Fair of Texas President Mitchell Glieber said in the release. "Both Longhorns and Sooners fans have centered annual traditions around this game, traveling to Dallas every year to showcase their pride and be a part of the most iconic rivalry in college football history."
This article originally appeared on Oklahoman: OU-Texas football game staying at Cotton Bowl through at least 2036