Terms Met To Build New $1 Billion Home For Falcons
Owner Arthur Blank might have threatened to move the Falcons, but we all knew that was a scare tactic to get what he wanted…a new home for his Falcons.
Officials announced today that financing terms have been met to build a new $ 1 Billion stadium in downtown Atlanta to house the franchise.
The Falcons organization will contribute $800 million toward the construction and the other $200 million will come from hotel-motel tax revenue. The Falcons franchise will also pay an additional $50 million in infrastructure costs and will be responsible for any possible overages.
Arthur Blank says the new state of the art stadium with a retractable roof will help the city compete for major events like the Super Bowl.
The $1 billion dollar number might seem a bit hefty, but given the fact that the House that Jerry built (aka Cowboys Stadium) cost $1.15 billion in 2009, it seems realistic to me. It will be interesting to see how the two compare.