Thursday, February 14, 2013
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The Atlanta Falcons could move to the suburbs if they fail to land a new downtown stadium, according to a Fox Sports South report.
Team CEO and president Rich McKay told the Atlanta City Council on Wednesday that the franchise will explore another location in the metro Atlanta area if they're unable to secure a $948 million for a new retractable-roof stadium.
The Falcons have called the Georgia Dome home since 1992, and their lease expires at the end of 2017. McKay doesn't think it makes sense to sign another lease.
"Depending on the final funding mechanism chosen for the stadium -- a project that is not universally popular among the public -- the city council might have to vote to approve it, as bonds could be issued through the city's economic development arm, Invest Atlanta," wrote Fox Sports South's John Manasso.
City officials have reportedly said that a new open-air stadium could be built for less than $700 million. The Falcons like that idea, but the venue is also used for NCAA basketball tournaments, SEC football championship games and concerts, necessitating a retractable roof.