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NFL approves $200 million loan for Falcons' new stadium

May 21, 2013 at 4:18 PM

BOSTON, May 21 (UPI) -- National Football League owners voted Tuesday in Boston to provide the Atlanta Falcons with $200 million in funding for the team's proposed new stadium.

The funding will come as a loan from the league's "G-4" program for stadium construction and renovation, the Falcons said on their website.

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An agreement on a new stadium between the Falcons and the city of Atlanta was announced in March. The team has played in Atlanta's Georgia Dome since 1992. The new Falcons' stadium is to be built near the Georgia Dome.

The retractable-roof stadium is scheduled to be ready for the 2017 football season.

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