The Atlanta Falcons continue to move forward in their efforts to build a new stadium, as NFL owners have approved the team for $200 million in NFL G-4 funding. The team has already secured $200 million in city tourism taxes, and will foot the bill for the rest of expenses.
Team owner Arthur Blank issued this statement on the official website:
"Today's approval by the NFL team owners is an important milestone in moving the new stadium project forward. The consideration of G-4 financing for new stadiums requires thoughtful analysis on the part of the NFL Finance and Stadium Committees, including compliance requirements that protect the best interests of all owners and the league.
"The NFL has supported new stadium construction through various means for decades. 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.
In addition to securing funds, the team has hired 360 Architecture and released concept designs. The new stadium will be replacing the Georgia Dome and is tentatively scheduled to open in 2017.