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  1. #16
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    Mar 2010
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    Atlanta, GA
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    League would contribute as much as $200M to the new stadium:
    Another funding source likely would be the “G-4” stadium-construction program enacted by NFL owners in December. The Falcons would be eligible for as much as $200 million from the league toward a new stadium — provided the team, or owner Arthur Blank, puts up a matching or greater amount.
    http://www.ajc.com/news/new-falcons-...t-1426844.html

  2. #17
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    Mar 2010
    Location
    Atlanta, GA
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    New $1 BILLION stadium deal to be signed by Dec. 31st

    The Georgia World Congress Center and the Atlanta Falcons are expected to sign off on their business deal for a proposed $1 billion new stadium for the team by December 31, according to Frank Poe, Executive Director of the Georgia World Congress Center, reports Atlanta Business Chronicle broadcast partner WXIA-TV.

    Poe spoke at a public forum Monday night hosted by Common Cause Georgia at Morehouse College. In addition to discussing a timeframe for a deal, he said taxpayers would cover about one-third of the costs of the proposed new stadium, or about $300 million.

    Poe said the remaining two-thirds would come from the Falcons, the NFL and other private-sector sources, WXIA reported

    The deal between the GWCC and the Falcons will specify who will pay for what, who will be liable for what, and how the revenue will be shared and for how long, Poe said, the station reported.
    http://www.11alive.com/news/article/...d-stadium-bill


  3. #18
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    Mar 2010
    Location
    Atlanta, GA
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    14,212
    More:
    The following breakdown is to serve as both an update and a clarification for those who have seen many different numbers flying around.

    According to the most recent estimates, the stadium will cost slightly more than $1billion.

    At the end of August, the Georgia World Congress Center Authority released the latest analysis from the Barrett Sports Group. The analysis put the overall cost at $1.032 billion; it estimated the public contribution to be roughly $331 million. Most of the public money would be from the hotel/motel tax.

    The hotel/motel tax is not a tax on residents... but does affect them.

    This tax places an 8% surcharge on all those who stay in hotels in both Atlanta and unincorporated Fulton County. In theory, these would be visitors to the area, not residents. This is why stadium proponents argue that residents' taxes will not be raised to make the deal happen. Instead, they say, they will only be taxing out-of-towners.

    However, while the money doesn't necessarily come from residents, it can still be spent however the legislature and various parties choose -- meaning the state doesn't need to sign off on spending roughly $300 million on a stadium. Opponents argue the money would be better spent on more pressing needs for the region.
    Compared to other stadium deals, this is actually a good one for taxpayers.

    Since 1995, 20 NFL teams have built new stadiums; on average, the public paid for 48% of the costs. In fact, take out the two most recent and most expensive stadiums -- Cowboys Stadium in Dallas and the Jets' and Giants' MetLife Stadium -- and the public contribution rises to an average of 62%.

    By those numbers, the potential Falcons' deal looks far more favorable. The public, under the Barrett Sports Group's analysis, would pay for 32% -- less than a third of the cost.

    The Falcons stand to gain a whole lot of revenue.

    So why would the Falcons spend at least $700 million? Because, as any sports economist will tell you, they stand to make a whole lot more back.

    Right now the Falcons are basically a tenant; the GWCCA runs operations at the Georgia Dome. The latest term sheet says the Falcons "will have the rights to all revenues generated" from a new stadium "and will pay all related costs."

    This will enable the Falcons to control revenue streams that don't have to be shared with the NFL or the GWCCA -- streams like adveritising, personal seat licenses, concessions, and luxury boxes.

  4. #19
    Join Date
    May 2009
    Location
    Chicago, Illinois
    Posts
    894

    New $1 BILLION stadium deal to be signed by Dec. 31st

    Contactable roof? ray:

  5. #20
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    Jul 2007
    Location
    Atlanta
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    21,875
    Gotta have a retractable roof. I've wanted to go to an outdoor game so badly but I've never had the chance.

    I was home for Thanksgiving and had the opportunity to go to UGA-Tech but something came up. This is exciting.

  6. #21
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    Nov 2005
    Location
    Seattle, WA
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    32,016
    Sweet stuff, since I probably won't make it out to Atlanta until after this is finished.



  7. #22
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    Mar 2010
    Location
    Atlanta, GA
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    14,212
    I'm almost positive it will have a retractable roof because that's what the long fight was really about. The local suits wanted another dome, while Blank and McKay preferred an outdoor stadium but didn't want to pay extra hundreds of millions for a roof that will only be needed for other events (Final Fours, etc).

  8. #23
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    Jan 2011
    Location
    Atlanta
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    185
    Can't wait to go! I've always liked outdoor stadiums more than domes

  9. #24
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    Mar 2010
    Location
    Atlanta, GA
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    14,212
    Gov. speaks on the matter:

    http://blogs.ajc.com/political-insid...anta%E2%80%99/
    Critics of a new stadium point out that the Georgia Dome is only 20 years old. But the governor said that if a new stadium doesn’t replace it, expensive updates would be required. “We do know the existing stadium, even though it looks very good now, within the not too distant future there will be significant repairs and upgrades that will be needed to maintain the current Dome,” he said.

    As he has before, [GA Governor Nathan] Deal said his involvement in the matter was limited, and refused to say whether he wanted the measure to pass. But the governor again tossed out some strong hints.

    “That’s not a judgment call that I make. It is a legislative matter. I certainly think that having a billion-dollar investment, the majority which is private money … is certainly something that is desirable for our state,” the governor said. “I think the city of Atlanta and the mayor in particular share the view that this is critical to the downtown area as well. There are a lot of things at play, but it does come down in very difficult economic times [to] convincing the Legislature … as to whether or not they want to do it.”

    But the most important thing the governor did today was cast the decision as one that should yield to local – i.e., Atlanta – sentiment. “I think there’s another important fact that sometimes gets over looked,” he said. “The dollars that will be collected and used to pay off the bonds for a new stadium – these are really dollars that belong to the city of Atlanta and Fulton County because they come from their local hotel-motel tax. These are not dollars that flow into the state treasury."

  10. #25
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    Mar 2010
    Location
    Atlanta, GA
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    http://espn.go.com/nfl/story/_/id/90...s-stadium-plan
    ATLANTA -- The Atlanta City Council voted Monday night to approve a financing plan to build a new stadium for the NFL's Falcons, removing one of the last hurdles for the downtown project that will replace the 20-year-old Georgia Dome.

    The council voted 11-4 to approve using city hotel-motel tax revenue to cover the $200 million public contribution for the proposed $1 billion, retractable roof stadium for the Atlanta Falcons. The team is expected to provide $800 million and cover any cost overruns.

  11. #26
    Join Date
    Dec 2010
    Posts
    53
    Tony G comes back...
    You guys sign SJax...
    Get funding for a new stadium...
    Then you get 4 compensatory picks?!?

    The rich get richer.

  12. #27
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    Apr 2010
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    In the gym
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    2,488
    Sweet!

  13. #28
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    Jul 2007
    Location
    New Bern, NC
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    1,111
    I went to a couple games at Lambeau and the weather sucked but the aptomesphere was awesome. I wouldn't be too opposed to an open air stadium.

  14. #29
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    Mar 2010
    Location
    Atlanta, GA
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    14,212
    Quote Originally Posted by irishfan1582
    I went to a couple games at Lambeau and the weather sucked but the aptomesphere was awesome. I wouldn't be too opposed to an open air stadium.
    Interested to see how often they open the roof because GA weather can be all over the place especially in the Fall.

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