With the NFL’s annual draft set for July 25, many have speculated that the Cowboys will build a new stadium at the University of Texas in Arlington, a project that has been widely rumored for years.

But now it seems like there is more to the story.

On Wednesday, Dallas-based architectural firm Vincenzo Marconi announced it is teaming up with the city of Arlington to design and build the $250 million stadium, which it said will be the largest privately financed football stadium in the nation.

According to a statement from the company, the project is the result of an “exemplary collaboration between Vincensi and the City of Arlington and the Dallas Cowboys.”

Marconi’s firm, which also designed the stadium for the Cowboys, said the design for the stadium will feature a retractable roof, which is part of the “world’s first retractable stadium,” and features a retracting canopy for spectators to enjoy the stadium from above.

The retractable canopy will be able to be opened and closed in about 30 seconds and can be lowered for viewing from the ground, the company said.

“The retractible canopy is the future of sports, and will make the Cowboys one of the most popular sports venues in the world,” Marconi’s president, Carlo Raffaelli, said in the statement.

“This retractable-roof design will allow fans to enjoy a full stadium experience from above.”

The team is already building the stadium, and Raffielli added that it will be “the first retractible stadium in North America to be built in partnership with the City.”

The stadium will have a retractible roof, seating capacity of 18,000 and capacity for the University District to fill with seating.

There will also be a roof-deck entrance with a video screen, restrooms and locker rooms.

The stadium is expected to open to the public in 2019.

“I am extremely excited about the opportunity this project presents to Dallas,” Mayor Mike Rawlings said in a statement.

“Dallas is already home to a beautiful new stadium, so it is only fitting to bring a new home to the University.

The construction of this stadium will make our city even more of a destination for visitors from around the world.”