World Cup 2014 coverage:

Falcons' stadium plan gets public funds

The SportsXchange

The Atlanta Falcons' plan for a $1 billion retractable-roof stadium in downtown Atlanta passed its final significant hurdle Thursday, according to the Atlanta Journal-Constitution.

The paper said that the city's economic development arm approved issuing more than $200 million in bonds covered by city hotel-motel taxes by an 8-1 vote. The team intends to have the stadium completed by 2017.

Mayor Kasim Reed told the Journal-Constitution that the deal will keep the Falcons in Atlanta for the next 30 years.

"We're building a best-in-class facility that will help us attract new events and retain the Falcons," he said, adding: "They were going somewhere ... Whether that was the suburbs or another city, they weren't staying [at the Georgia Dome]."

In a statement, the Falcons said the remaining construction costs will come from the team and other private funds.
Sign up for Yahoo Fantasy Football
View Comments