NFL owners vote to give Falcons $200 million loan for new stadium
Continuing their belief that new stadiums are needed throughout the NFL, league owners voted to give the Falcons a $200 million loan.
With the news last month that the city of Atlanta will issue $200 million worth of public bonds to help get the Falcons' new $1 billion retractable-roof stadium built, there’s more good news for owner Arthur Blank’s franchise.
"The NFL has supported new stadium construction through various means for decades," Blank said, via the Associated Press. "Our club owners understand that investments ... are important to the long-term strength of the league, and we thank them for their support."
Previously, Blank had threatened to move the team to the Atlanta suburbs unless a new facility was built to replace the Georgia Dome, which opened in 1992. The city, though, quickly responded.
“We're not simply swapping one stadium for another. We're building a best-in-class facility that will help us attract new events and retain the Falcons,” mayor Kasim Reed said last month.
“They were going somewhere. … Whether that was the suburbs or another city, they weren't staying here.”
If the stadium gets built -- and it’d be scheduled to open for the 2017 season, after which the Georgia Dome would be destroyed -- we’d assume the NFL soon after would return the Super Bowl to Atlanta.
And for those asking, yes, this loan was absolutely needed. I mean, how else are the Falcons going to get the money to install vibrating seats?!?
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