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The Falcons and the Georgia World Congress Center insist they have merely reached a memorandum of understanding on building a new stadium for the Falcons and it is not a done deal. What is suspicious is that they already know how many seats the stadium will have, how many temporary seats, and how many suites will be in the palace, which they have already priced at $700 million.
Sounds like they only need to pick out the curtains.
On the day the state legislature announced cuts in funding to the HOPE scholarship program, Georgia's higher education bedrock, Arthur Blank's team is on track to receive a publicly-financed stadium. It is not clear how much Blank and the Falcons will pay, but it should be significant considering how other deals have been struck with NFL teams.
The NFL has said publicly that Atlanta has no chance at getting the Super Bowl unless there is a new stadium for the Falcons. Taxpayer advocates here regarded it as extortion, but Governor Nathan Deal seemed to be all in favor of the state's participation, even as he calls for belt tightening.
The NFL claims the Super Bowl week is worth a whopping amount of money in the hundreds of millions of dollars. NFL teams also insist their product generates many benefits for the new community, even though there are just eight home regular season games.
"We appreciate the Authority's diligence in working through this process in a thorough and thoughtful manner," the Falcons management said in a statement. "We continue to have open dialogue with the Authority on a range of topics and options, with the shared goal of working toward an agreement that is in the best interests of the community, our fans and all other stakeholders involved. At this point, no decisions have been made; therefore, we will have no further public comment at this time."
The land for the stadium has already been bought and secured according to local real estate people. When inquiries have been made about the land north of the Georgia Dome on Northside Drive, interested parties have been turned away.
The Falcons will be able to capture significant revenue with vast parking areas. The stadium will be a significant walk from the Atlanta rail station, which could persuade patrons to pay $40 to $100 for a parking space.
Falcons' Prospects for New Stadium in Georgia Looking Increasingly Likely
Feb 22, 2011 – 6:56 PM
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