Atlanta’s mayor and Falcons owner Arthur Blank have agreed to financing terms for a new $1 billion, retractable-roof stadium to replace the 20-year-old Georgia Dome and keep the team’s home games in the city’s downtown, the two men said Thursday.
Mayor Kasim Reed said the city would provide $200 million of construction costs through bonds backed by the city’s hotel-motel tax. The Falcons franchise, owned by Home Depot co-founder Arthur Blank, would provide $800 million and be responsible for construction cost overruns.
So the Falcons are paying 80 percent towards their new stadium while the Panthers expect to pay off 25 percent of the cost of upgrades at their existing, privately owned stadium?
