Falcons get $200 million loan for stadium

The Atlanta Falcons were approved a $200 million loan by NFL owners for the construction of a new stadium.

FoxNews reports the City of Atlanta signed an agreement with the Falcons allowing for the construction of a new stadium starting March.

Falcons owner Arthur Blank said in a statement Tuesday that he was "excited with the outcome of today's vote" and that he looked forward to participate in a project that would "benefit the city and state for many years to come."

"The NFL has supported new stadium construction through various means for decades," Blank said. "Our club owners understand that investments such as G-4 financing are important to the long-term strength of the league, and we thank them for their support."

Blank added that the stadium will be a multi-purpose arena and that it will probably be under construction for the next four years.

The Falcons, who have played in the Georgia Dome since 1992, expect to play in their new stadium for the start of the 2017 season.