NFL

Falcons secure financing for stadium

Share This Story

   
 

ATLANTA (AP)

NFL calendar

CIRCLE THE DATE

Now that the NFL's 2013 calendar year has begun, here's what fans have to look forward to.

Officials say financing terms have been reached for the Atlanta Falcons' proposal for a new $1 billion stadium in downtown Atlanta. The Atlanta City Council must now vote on the proposal.

Atlanta Mayor Kasim Reed and Falcons owner Arthur Blank announced the financing deal Thursday at a news conference along with the Georgia governor.

Reed says the public contribution to stadium construction through hotel-motel tax revenue will be capped at $200 million.

He says the city will provide $15 million toward the stadium. He says the Falcons will pay $800 million and an additional $50 million for infrastructure-related costs associated with construction.

The franchise is also responsible for paying for any budget overruns.

Tagged: Falcons

Related Stories

Member Comments

Please note by clicking on "Post comment" you acknowledge that you have read the Terms of Use and the comment you are posting is in compliance with such terms. Be Polite. Inappropriate posts may be removed by the moderator.

powered by


NFL Videos

Best Person in Sports: Keenan Lewis Posted: Jul 15, 2014
Saints CB Keenan Lewis hosts a back-to-school event, giving children medical ser...

NFL Roundtable: New York Jets Posted: Jul 14, 2014
They're a team with plenty to prove and a roster of players primed to get it don...

NFL Roundtable: Detroit Lions Posted: Jul 11, 2014
A team with so many weapons, is this the season that the Lions put together and ...