With the news last month that the city of Atlanta will issue $200 million worth of public bonds to help get the Falcons' new $1 billion retractable-roof stadium built, there's more good news for owner Arthur Blank's franchise. On Tuesday, the NFL owners approved a $200 million loan that will go into the stadium fund. "The NFL has supported new stadium construction through various means for decades," Blank said, via the Associated Press. "Our club owners understand that investments ... are important to the long-term strength of the league, and we thank them for their support." Previously, Blank had threatened to move the team to the Atlanta suburbs unless a new facility was built to replace the Georgia Dome, which opened in 1992. The city, though, quickly responded. “We're not simply swapping one stadium for another. We're building a best-in-class facility that will help us attract new events and retain the Falcons,†mayor Kasim Reed said last month. “They were going somewhere. … Whether that was the suburbs or another city, they weren't staying here.†Source:CBSSports
do not see why blank needed to borrow money cause the dude has to be worth several billion at the least.unless Atlanta builds them a new stadium,blank will leave.
eh, that's the thing with some of these guys. they may be worth a crapload of money 'on paper' but depending on where they have it, they can't put their hands on it quickly or easily. It's tied up in businesses, investments, etc. That's why you hear about so many of these rich guys taking out loans but they are worth billions.
from the success blank has had,he has to be worth in the billions. he is nowhere nearly as wealthy as the walmart family,but he has to be up to about 5 to 10 billion dollar fortune.
A lot of people here in town weren't happy that they are fitting some of the bill for the new stadium Sent from my iPhone using Tapatalk 2
if the guy obviously has the money,he should just foot the bill at least half.i am not sure,but I think jerry jones paid for jerry world in dallas by himself!?
The nfl gave jones a loan of 120 mil And the city voted to raise taxes by .5% to raise some cash. JJ paid for 2/3rds of the 1.3 billion. The city of Atlanta didn't let the people vote on whether to raise the taxes. Sent from my iPhone using Tapatalk 2
well, local, state, and federal governments don't have to let the citizens vote every time they give a tax break to a corporation or decide to spend tax money in some fashion. that would be total chaos if people had to vote on every little decision. the real problem is how many things our government entities are now involved in ............ they were never supposed to be involved in this much stuff.
Agreed But people here are upset bc they raised taxes for this stadium when at the same time the city is crying about being broke and being able to fund the police, firefighters etc etc Sent from my iPhone using Tapatalk 2
