DALLAS, TX (TIP): Republican leaders want to bring the 2016 Republican National Convention to Dallas. The city would need to raise at least $50 million to host the event. At least five other cities are vying for the chance to host.

The four-day event would be held at the American Airlines Center. American Airlines Center (AAC) is a multi-purpose arena, located in the Victory Park neighborhood, near downtown Dallas, Texas.

The venue serves as the home to the Dallas Mavericks of the National Basketball Association, and the Dallas Stars of the National Hockey League. The arena is also used for concerts and other live entertainment. It opened in 2001 at a cost of $420 million.Dallas last hosted the convention in 1984, nominating President Ronald Reagan for a second term.