May 21 (Bloomberg) -- National Football League owners approved $200 million in financing for part of the Atlanta Falcons’ share of a new $1 billion downtown stadium.
Home Depot Inc. co-founder Arthur Blank, the team’s owner, called the loan from the league’s G-4 financing program “an important milestone” in advancing the stadium project in a news release sent by the team.
“The NFL has supported new stadium construction through various means for decades,” Blank said. “Our club owners understand that investments such as G-4 financing are important to the long-term strength of the league.”
The stadium plan includes a $200 million public contribution raised through the sale of bonds. Blank said design and construction will take about four years. The team plans to open the 2017 season in the new building.
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