SBD/Closing Bell

Georgia Agency Approves Term Sheet For Falcons Stadium Deal

The Georgia World Congress Center Authority board this morning "unanimously approved terms that are intended to provide the framework for a deal" on a new retractable-roof, $1B downtown stadium for the Falcons. Key aspects of the non-binding term sheet include the GWCCA owning the stadium and the Falcons operating it under a 30-year license. A portion of the construction cost would be funded by an estimated $300M in revenue from the hotel-motel tax in Atlanta and Fulton County (AJC.com, 12/10).
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