Non-binding terms approved for new Falcons stadium deal
The Georgia World Congress Center Authority board Monday morning unanimously approved terms that are intended to provide the framework for a deal on a new downtown stadium for the Atlanta Falcons.
The board, at a special called meeting, OK’d a 24-page non-binding term sheet that will be the basis for further negotiations toward a more definitive, binding agreement between the GWCCA and the Falcons.
Loading ...The plan is to build a retractable-roof stadium, with a potential cost of around $1 billion, on the GWCCA campus in time for the 2017 NFL season.
Key business terms approved by the board include:
- The GWCCA, a state agency, would own the stadium.
- The Falcons would operate the stadium under a 30-year license agreement, with options to renew for an additional 15 years.
- A portion of the construction cost would be funded by revenue from the hotel-motel tax in the city of Atlanta and Fulton County; that portion has been estimated at around $300 million. The rest, including any cost overruns, would be the Falcons’ responsibility, although that could be offset by the sale of personal seat licenses.
- The Falcons would pay annual rent of $2.5 million, increasing 2 percent per year, to the GWCCA.
- The Falcons would be responsible for all of the stadium’s operating expenses and would retain all revenue.
- The Georgia Dome would be demolished, and many events held there would move to the new stadium.
- The new stadium would be built on the GWCCA campus, with the final selection from two sites – one just south of the Dome and the other a half-mile north of the Dome – deferred until the negotiation of a more definitive memorandum of understanding early next year.
Next step: issuing a request for qualifications (RFQ) to begin the process of hiring a lead architectural firm to design the stadium.
Check back later today for further updates.
- Tim Tucker of the AJC staff
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342 comments Add your comment
Suwanee Falcon
December 10th, 2012
1:52 pm
Perhaps you should enlist Trump to track down Arthur’s birth certificate, Mr. Conservative!
Wutehvah
December 10th, 2012
1:54 pm
Dear [Arthur Blank] and [NFL]:
Please explain why a new dome is required before ATL will be awarded another Super Bowl? New Orleans is hosting (again) in 2013, yet their dome is MUCH older. Please explain.
I’ll hang-up and listen now…
frank langston
December 10th, 2012
1:55 pm
why build a stadium near the mug train go north or south
gbal
December 10th, 2012
1:57 pm
a new stadium allows the city and state to remain competitive …. We already have these events. There has been no threat to leave due to facilities….. SEC commish has just said facliities were excellent….
” A new stadium in Atlanta is important to the Falcons for a number of reasons:
“League competative game day experience for our fans” ??? BS!!! It is already fine for our fans. It is full every Sunday… We are happy thank you much.
” it will help the team remain competitive on the field over a long period of time.” What does this have to do with it!!! Our players will try harder with a new field??? Please expain!!!
“it puts into place a long-term solution following the expiration of our lease at the Georgia Dome”. Now you are really calling us stupid!!! Here’s your solution… RENEW YOUR LEASE IN THE GA DOME!! It’s not that hard unless your making a threat!!!
“public funding for the remaining one-third of the stadium construction costs will be covered by the existing hotel-motel tax, which is largely paid by visitors, not local residents.” …. Just like a government thinker and you expect us to not understand…. How bout that $$$ goes to schools, fighting crime, infrastructure, roads, ….. f’in idiots we are not!!! Are you that dumb?
North by southeast
December 10th, 2012
2:02 pm
Here’s how the new stadium timeline should look: Falcons win a Super Bowl, then they get a new stadium.
gbal
December 10th, 2012
2:02 pm
GSU ALUM….. Explain why this is not YOUR TAXES paying for the stadium???
WTF?
December 10th, 2012
2:03 pm
Need to test Blank for drugs. He may be on some medical Mary Jane.
gbal
December 10th, 2012
2:05 pm
Thats like a city or county getting a grant for some frivialous project and thinking it got somethig for free. Not our monet… not costing you anything!!! WELL what happens when a school needs replacing or a road or bridge replaced.. Be nice if we could sock away those hotel tax $$$ to give us some relief….
Gwinnett Mom
December 10th, 2012
2:08 pm
I dont no why they have to built it downtwon where all the crime and gays R. No way am I taking my family to a game every again.
Suwanee Falcon
December 10th, 2012
2:10 pm
“Just like a government thinker?” lol You mean, just like a businessman thinker…. reap the rewards and tag the consumer and other locals…
KNOT
December 10th, 2012
2:10 pm
Who really cares if we do have another superbowl if it is going to cost us $300 Billion (hahahaha) plus!!!
Brian
December 10th, 2012
2:12 pm
Near the bottom in education, no we should not spend one dime on a new stadium. Invest in our future, invest in schools – pay our teachers more.
NO WAY the taxpayers should pay for this. NO WAY…
frank langston
December 10th, 2012
2:12 pm
Enter your comments here
Gwinnett Mommy
December 10th, 2012
2:13 pm
Right! Thir not laake us god-fearin’ folk who just can’t stand anyone with a different outlook on laafe…
tpk11
December 10th, 2012
2:16 pm
Absolute waste of taxpayer money just so art blank can have bigger and more “luxury rooms” for more big whigs.
Just say: No art, you can’t have a bigger toy.
Shady
December 10th, 2012
2:16 pm
We will still have a 12th man with the roof open, the Seahawks play in an outdoor stadium and they have one of he loudest crowds in the NFL. The public money used is collected from hotel/motel tax in Fulton County only. Enough of the crying about the public money should not be used, the state will own this, the Falcons will lease it. Don’t stay in a hotel in Fulton County and you won’t have to help pay for it. I personly enjoy staying in a nice hotel downtown when the Falcons play night games and I have known that since 1990 or so that I have been helping to pay off the dome. Congrats to the Falcons and GWCCA, well done.
jimjones
December 10th, 2012
2:18 pm
Of course the taxpayers should pay for a new stadium. How else could poor Arthur keep paying his team millions per year.
Suwanee Falcon
December 10th, 2012
2:21 pm
You mean.. how else will Arthur keep lining his pockets?
KNOT
December 10th, 2012
2:21 pm
Suwanee – Yep…. your right ! Arthur hooked them OK!!! Or government at work for us!!!
Tea Party Meber
December 10th, 2012
2:21 pm
And the part bout adding more jobs? All those construction jobs will go to Mexicans N E way.
Again the govt. handing out to people who need it least.
garyc42
December 10th, 2012
2:21 pm
What a waste of Money.Our economy is going down the drain and they want tax payers to pay for a new stadium.It just shows that all our state and government officials don’t care about nobody, but their pocket books getting richer.
KNOT
December 10th, 2012
2:22 pm
Its not our $$$. We’ll give you some tax payer $$$…. Build it!!!
Unknown
December 10th, 2012
2:24 pm
there was talk rumor that new falcons stadium possible at old doraville GM plant. what happened?
there is easy access to marta and I-285. that’s solution.
Falcons Move Closer To New Stadium Deal | The Falcon Wing
December 10th, 2012
2:25 pm
[...] Courtesy of AJC – Original article - http://blogs.ajc.com/atlanta-falcons-blog/2012/12/10/non-binding-terms-approved-for-new-falcons-stad… [...]
Falcons Move Closer To New Stadium Deal | The Falcon Wing
December 10th, 2012
2:25 pm
[...] Courtesy of AJC – Original article - http://blogs.ajc.com/atlanta-falcons-blog/2012/12/10/non-binding-terms-approved-for-new-falcons-stad… [...]
A Deeze
December 10th, 2012
2:25 pm
all of yall are stupid for approving this deal. this is a prime example of a rich man(Authur Blank) wanting to become richer. he didnt have all the money himself so he covinced the city this new stadium would bring in more revenue for residents of atlanta. so now atlanta residents will have to pay more in taxes for this new stadium while all the money goes to Blank’s pocket.
Flying High!
December 10th, 2012
2:27 pm
Atlbirdawg
December 10th, 2012
12:48 pm
@ Flying High
Your missing one important fact. The Falcons are covering over $600 million of the stadium’s cost. Other events will not get a rate of $2.5 million/10 because they haven’t contributed to the costs.
———————————————————-
No, I didn’t miss it. And it’s nice of the Falcon’s to agree to pay about 70% of something they will keep 100% of revenues on. And let’s be realistic, the Falcon’s out of pocket will be far less than 70%. The PSL’s will generate at least 20% of that, probably closer to 35+%. For comparison, consider the Panthers, another non ‘top-tier’ team (compared to Dallas, NY, NE, etc. that have fan-bases which can ‘justify’ higher PSL’s) has 62,000 of their seats with PSL’s, and the least expensive of which is $2,000 ea. and the top end is $20,000(non club / suite seats). In the end I’d bet the actual cash laid out by the Falcon organization will be 40% or less of the total cost. And again, they keep 100% of the rewards. Talk about a great return!
My biggest beef here is they should have to pick 1) you get some public money and if so you provide a part of revenue back to the public for use of that money or 2) you use 100% private funds, including PSL’s. But they shouldn’t be able to double dip it without giving something back to the public from the revenue stream. They shouldn’t take public funds and then require me to pony up cash for the PSL that only gives me the right to buy my ticket (which by the way I’m sure will be substantially higher in the new stadium than the old).
Getaway
December 10th, 2012
2:31 pm
Do this to attract a Super Bowl is terrible idea. I remember the last Super Bowl at the GA Dome. No one was complaining about the facilities. They were complaining about the weather (it was unusually cold that year) and the lack of things to do in that area. Officials from the NFL were saying never again. Building a new stadium will not fix the issues that cost ATL subsequent Super Bowls.
The Super Dome is like two or three blocks away from the French Quarter. It’s maybe a 10 minute walk to Harrah’s with all kinds of shopping and dining along the way. To recreate that experience, you’d have to put the facility in Buckhead… and legalize gambling… and it would still require massive amounts of infrastucture development to support the increased traffic from cars and pedestrians.
KNOT
December 10th, 2012
2:42 pm
Adeez… slightly wrong… He has the $$$… Just why spend mine whent I can get city/county/state to foot the bill
Colin
December 10th, 2012
2:43 pm
Looks like Arthur gets himself a nice little Hanukkah gift partially paid for with public funds. He really should be ashamed to even be asking for a handout.
KNOT
December 10th, 2012
2:46 pm
And the average atlanta fan is not going to see a superbowl in Atlanta…
1 The Falcons are not going to make it.
2 If they did, all tickets will be sold to corporations.for high $$$.
NoleRick
December 10th, 2012
2:49 pm
This is just bad timing….after yesterday’s loss….
Suwanee Falcon
December 10th, 2012
2:59 pm
To Tea Party Meber : You spell your name about as well as you teabaggers misspelled your signs at your klan rallies. Is your name Tea Party Me”m” ber??
Lala land falcons fans
December 10th, 2012
3:04 pm
Gwinnett Mom: Really?? hahaha Wow…
THE TRUTH
December 10th, 2012
3:04 pm
Here’s an idea….. Put that hotel tax into cleaning up this craphole of a downtown area. There is nothing to do within walking distance of the dome. Traffic and getting around is a nightmare. And maybe if Atlanta were a decent place to visit, people would want to come back and not just because they have a layover. Build restaurants, bars, put some gambling downtown a you will have a place people want to come to for a Super Bowl, regardless of the dome.
Richard Braswell
December 10th, 2012
3:10 pm
Any intent to put any part of the cost burden for a new stadium on the taxpayer is criminal. I thought there was a revolution coming about in this country and people actually posture to pay for sports arenas with tax dollars. That’s like cutting the American tax rate for the top earners and then starting a ten year war fought with boatloads of taxpayer (borrowed) cash. So the new stadium crowd has been bitten by a mosquito that bit George W. Bush and John Baaayyyynnneerrr. Get a doctor and or get a life. Have the NFL float the boat on this one and let the players pony up for the new cage. No TAXES FOR A STADIUM.
Suwanee Falcon
December 10th, 2012
3:11 pm
I completely agree with THE TRUTH. This town has no identity… Get more pubs and restaurants around there and a casino or two… make it a destination…
gbal
December 10th, 2012
3:15 pm
Blank trying to keep up with the Jones’ on ATL tax dollars….
Well ATL can keep up with the Dallas’ …. we are broke, corrupt, dirty, and nothing to attract SB patrons downtown… Cant hold a candle to Dallas and and new stadium is not going to fix it.
Absolute BS about a new stadium needs to be built to award a superbowl. Have the SB in Macon Ga or Junau Alaska… It will fill up. But Atlanta is not attractive.
The SB should actually be like all other provessional sports… Rotate between the league or to the team with the best record. This would make it really for the fans. Now its for the corprate sponsors only.
WTF?
December 10th, 2012
3:20 pm
Need to clean up the crime in that part of town…not a new stadium.
Richard Braswell
December 10th, 2012
3:23 pm
As well, the existing traffic kludge and the ever increasing thuggery and general danger to life in and around the existing stadium area is NOT GOING TO BE MADE BETTER BY A NEW STADIUM. The GWCCA members must have a plan for one huge payday if they can snow this one through!!!!
ronnie tuner
December 10th, 2012
3:24 pm
thank you falcons
NO WAY
December 10th, 2012
3:26 pm
Hey, if the Falcons want a new stadium, let the Falcons buy it. I need a new home, hey Arthur can you build me a new home. What a joke, we are about to have all out taxes go up and you want to raise more state taxes for some stupid stadium. I have never been to a Falcons game and could care less if they ever play again.
gbal
December 10th, 2012
3:34 pm
“The GWCCA members must have a plan for one huge payday if they can snow this one through!!!!”
They have a pipe dream, but it aint happening in Atlanta…. Maybe it happens one time (we get a Superbowl) but we never become a Miami, tampa, New O….. that gets repeat…. There is just nothing to make Atlanta a destination city. No new stadium…. Great for SEC events…. Located in the center of the confrence and an easy weekend drive in and out. But for a not regional world wide event like the Superbowl or olympics… A once in a lifetime event.
Ralph Christian
December 10th, 2012
3:38 pm
NOT ON MY BACK AS A TAXPAYER…!!!!! 50% + OF POLITICIANS ARE CORRUPT!
Falcon Flap
December 10th, 2012
3:41 pm
My problem is that you look at the new york yankees new stadium and what it has done to their attendance. The middle class die hard yankee fans cant afford to go to games at the new stadium.
Ivory
December 10th, 2012
4:05 pm
Why build it at all, I don’t watch football, and couldn’t care if they ever played again!
JerryfromGA
December 10th, 2012
4:22 pm
Isn’t Arthur Blank a billionare? Can’t he wrangle up some investors and build this privately?
GSUAlum
December 10th, 2012
4:29 pm
Excuse my ignorance but, isn’t a hotel/motel tax a charge on visitors to the area (in this case Atlanta & Fulton County)? That is then used to promote tourism? So how are the taxpayers in Atlanta affected by this?
With the amount of events the Dome currently hosts and with the proposed additional events I could understand building a new stadium with a retractable roof. As a Falcons fan, I understand fans anger at the lack of production in the playoffs. Of course I’m sure Arthur Blank and the Falcons know that multiple Superbowl trophies/appearances will be expected in this new stadium.
Can people even read
December 10th, 2012
4:32 pm
The 300 million is coming from visitors to Atlanta within the Atlanta city limits … the only way you will contribute money to this stadium is if you stay in hotels in the Atlanta city limits or you buy season tickets in 2017 and beyond. Arthur has made ticket prices some of the lowest in the league so i dont think he is going to make it impossible to afford to go to the new stadium. The hotel and motel tax would not be approved by other local businesses if the extra funds were not going bring them more money so these funds DO NOT EXIST for other purposes. Hotels and motels are taking the hit in anticipation of increased business.
Dum-Bass
December 10th, 2012
4:35 pm
Yes, all citizens of Atlanta and the area should have to help pay for it if they are that naive and gullible. I will never pay a dime on it as I don’t live in Ga and will never attend a game in it or stay in a motel there. Do not plan to set foot in Atlanta ever again. If they were some decent pro teams in ATL, then they might deserve it, but there’s not. The Braves do the same thing every year, and the Falcons will blow it in their first playoff game. The “jinx” even grabbed the DAWGS this year. They should know better than to play in Atlanta. Losersville does not deserve a “winner’s palace” unless the fans pay for it. If you don’t stand up and knock it down, you deserve to have it socked to you!