UPI en Español  |   UPI Asia  |   About UPI  |   My Account
Search:
Go

Sports News

Falcons may sweeten pot for new stadium

|
 
Published: Jan. 31, 2013 at 3:09 PM

ATLANTA, Jan. 31 (UPI) -- The Atlanta Falcons could be willing to fork over $100 million more to pump up public support for a proposed $1 billion stadium, officials say.

The deal for a new retractable roof stadium would require the team to provide $800 million, The Atlanta Journal-Constitution reported Thursday, citing three people familiar with the negotiations who could not speak publicly.

The original proposal called for the Falcons to provide $700 million.

In addition, the team would have to pay about $60 million to pay off the debt on the current stadium, which would be demolished, two of the sources said.

The current debt is about $98 million.

The remaining $200 million would be paid by the city of Atlanta by issuing bonds, the sources said.

Such an arrangement would not need approval by the Georgia Legislature.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

Order reprints
Join the conversation
Most Popular Collections
'Star Trek Into Darkness' screening NBC upfronts Met Ball 2013
'Great Gatsby' premieres in New York Spire raised on top of One WTC 2013: Celebrity break ups and divorces
Additional Sports News Stories
1 of 16
Flags-In Ceremony at Arlington National Cemetery
View Caption
Staff Sgt. Jeffrey Roskos with the 3rd U.S. Infantry Regiment, "The Old Guard," participates in the annual Flags-In ceremony, May 23, 2013, at Arlington National Cemetery in Arlington, Virginia. Soldiers place American flags in front of more than 260,000 gravestones in the cemetery in honor of Memorial Day. UPI/Kevin Dietsch
fark
Woman holds off cops for hours by refusing to turn over video of beating without a warrant, fearing...
Federal judge Ric Romero finds that Sheriff Joe engaged in racial profiling
Florida driver forgets he's in Florida and pulls a shotgun on another driver, who unfortunately...
Caption what Chris Christie is saying to Snookie
Photoshop this shadowy cove
Try not to flame your fellow citizens, but there's this, just in time for the long holiday weekend....