New stadium deal may be days away

by: Lori Geary Updated:


ATLANTA - Channel Two Action News has learned from high-ranking sources involved in the new stadium negotiations that decision-makers are close to a final deal that could be announced next week.

Channel 2’s Lori Geary was told the Falcons have agreed to pony up more than $800 million for the new facility and would possibly pay off the remaining debt on the existing Georgia Dome, which would be demolished. 

Sources familiar with the negotiations also say $200 million in bonds issued through the City of Atlanta, not the Georgia World Congress Center Authority, would still be paid by through the city’s hotel/motel tax. 

The bonds would not need approval from Georgia lawmakers and the state would own the facility after 30 years. 

Initially, The Georgia World Congress Center Authority negotiated a deal with the Falcons that would have included $300 million in state-backed bonds, team owner Arthur Blank would pay the remaining $700 million.

Channel Two Action News initially broke the story that Governor Deal was not comfortable with the $300 million bond deal, and did not want state lawmakers to have to vote to increase the borrowing limit of the Georgia World Congress Center Authority by $100 million. 

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