NFL team the Atlanta Falcons will take out construction loans totaling US$850m to help fund its portion of the US$1.4bn cost of building its new downtown stadium.
Greg Beadles, executive vice president and chief financial officer of the Atlanta Falcons, told a state agency that the team expects to secure the loans from up to eight banks within the next two weeks. To cover the remaining cost, the city of Atlanta will contribute US$200m in stadium bonds and the state of Georgia will pay US$40m for parking expansion. The total public spending will amount to about US$600m.
In related news, Equifax, one of the largest consumer credit reporting agencies in the USA, has been announced as one of the 14 founding partners of the new Atalanta stadium, which is set to open in 2017.
The new 10-year partnership agreement with the Falcons will give the company a premier presence in the new stadium, including a branded zone that will provide Equifax the opportunity to engage new stadium patrons on each of the three main concourses inside the new structure. The partnership includes joint promotions, branded radio segments, on-field contests, digital programming, prominent signage at the new stadium, and other advertising related to the company’s credit monitoring and identity protection products.
April 30, 2015