ATLANTA (AP) - Officials say financing terms have been reached for the Atlanta Falcons' proposal for a new $1 billion stadium in downtown Atlanta. The Atlanta City Council must now vote on the proposal.
Atlanta Mayor Kasim Reed and Falcons owner Arthur Blank announced the financing deal Thursday at a news conference along with the Georgia governor.
Reed says the public contribution to stadium construction through hotel-motel tax revenue will be capped at $200 million.
He says the city will provide $15 million toward the stadium. He says the Falcons will pay $800 million and an additional $50 million for infrastructure-related costs associated with construction.
The franchise is also responsible for paying for any budget overruns.

Recent NFL Discussions

Top NFL Public Bets

NFL Top Stories

Thumbnail Rusher ready to continue banner postseason Dion Lewis has not lost a game as a Patriot over two seasons. But how action will the dynamic third-down threat see in the team’s Super Bowl LI matchup...
Thumbnail SBLI: Patriots favored over Falcons Following their victory in the AFC title game, the Patriots have opened as small favorites over the Falcons in Super Bowl LI.
Thumbnail AFC Championship Game Prediction Are the Steelers a good bet to cover versus the Patriots in tonight's AFC Championship Game at 6:40PM ET?
Thumbnail AFC Title Spread Holding Steady Kickoff of tonight's AFC Championship Game is set for 6:40PM ET between the Steelers and Patriots. Where is the point spread currently?
Thumbnail Public Bettors backing Patriots Are public bettors backing Tom Brady and the Patriots today in the AFC Championship Game, or the underdog Steelers at 6:40PM ET?

NFL Team Pages