Deal reached on Atlanta stadium
Atlanta’s mayor and the owner of the Atlanta Falcons have agreed to financing terms for a new $1 billion, retractable-roof stadium to replace the 20year-old Georgia Dome and keep the team’s home games in the city’s downtown, the two men said Thursday.
Mayor Kasim Reed said the city would provide $200 million of construction costs through bonds backed by the city’s hotelmotel tax. The Falcons franchise, owned by Home Depot co-founder Arthur Blank, would provide $800 million and be responsible for construction cost overruns.
The Falcons would pay for up to $50 million in infrastructure costs not included in the construction budget and help retire the last few years of debt on the Georgia Dome, which was publicly financed entirely using the hotel-motel tax.
Also, Blank’s private foundation and the city each would spend $15 million on surrounding neighborhood development.
Blank — who has built his football franchise into a perennial playoff contender — still must negotiate a detailed lease and operating agreement with the Georgia World Congress Center. That’s the state agency that owns the existing dome and would own the replace- ment. Reed also must get the blessing of the Atlanta City Council, though several members attended the announcement in the mayor’s office, as did Georgia Gov. Nathan Deal.
Bengals: Cincinnati agreed to a two-year deal with running back Cedric Peerman, a special teams standout who could have become a free agent next week.
Bills: Tight end Mike Caussin remains under contract for next season and linebacker Bryan Scott has re-signed with the club, Buffalo announced.
Chargers: San Diego released linebacker Takeo Spikes in its first major move under new general manager Tom Telesco. Spikes, 36, has played 15 NFL seasons, including the last two with San Diego.
Niners: San Francisco tendered a one-year contract to restricted freeagent cornerback Tramaine Brock and signed wide receiver Joe Hastings to a one-year deal.
Titans: Tennessee agreed to terms and kept kicker Rob Bironas off the free-agent market and with the team he has spent the past eight seasons. NFL.com reports the deal for Bironas, 35, who ranks as the third-most accurate kicker in NFL history, is for two years.
■ The Titans also resigned defensive end Keyunta Dawson to a oneyear contract.