Atlanta to build new Billion dollar stadium

[danky1313]

Originally Posted by GatorDoc74

If true, this is a sad commentary on our society.

Seriously?

How is it a sad commentary on our society that a self-made billionaire always gets what he wants because he has the money to do so?

If you were a billionaire you're telling me you wouldn't use that to ensure things are done to what you expect them to be? I don't think the other poster was inferring Blank uses his $ and influence in an underhanded manner to "always get what he wants" so why would it be sad?

* Forgive me if I misunderstood though the meaning in which you meant for that to sound.

[tilly]

OK for those just joining in...or those failing to read the facts...just start here.

1. The city of Atlanta is going to have a new Stadium for its football team nicknamed the Falcons.

2. The taxpayers of Atlanta are not funding the stadium. 80% is ownership. 20% from tourists.

3. The new stadium will have a retractable roof for bad weather. It will be open for good weather.

4. For those REALLY not paying attention....Mike Vick is now in philly.

Now carry on with my post as your new starting point.

Sent from my Samsung Galaxy Tablet using Gator Country

[atlzamgator]

OK, before this gets moved to THFSG, living here some observations.

:the Falcons may have to pay $43 million or less for the $1.17 billion stadium."

Got that? read this link:
http://agraynation.com/2013/02/24/20130221.aspx

Private Seat licenses are coming to Atlanta.

On 2/13 the mayor of Atlanta promised 'transparency' when addressing stadium negotiations. http://saportareport.com/blog/2013/0...e-for-atlanta/

3 weeks later? $1B deal basically done.

Well, the stadium was fine. I won't be buying a PSL, or getting hijacked over $25 parking per game charges, or paying $11 for a beer. Or paying $700 dollars for 1 season ticket. I won't take MARTA for any game, and I won't be spending a penny on the "new atlanta" that political hacks are predicting near the new dome/convertible roof.

[Swampmaster]

Anyone who thinks Atl will pay "only" $200 mil on this palace is in fantasyland

[atlantagator86]

Originally Posted by atlzamgator

OK, before this gets moved to THFSG, living here some observations.

:the Falcons may have to pay $43 million or less for the $1.17 billion stadium."

Got that? read this link:
http://agraynation.com/2013/02/24/20130221.aspx

That's one person's OPINION. Not really factual information. And the information is misleading.

The Falcons team may only be paying $43 million but Blank is putting up a lot of money himself. Outside of the $200 million the city will pay, the entire stadium construction will be funded by the Falcons and Blank. Period.

PSLs are really nothing new for the Falcons. The Georgia Dome was one of the first stadiums to sell seat licenses. I know that because I personally helped them advertise them.

For those who may not fully understand what PSLs are, it is basically leasing the RIGHTS to a seat in the stadium. It doesn't include the event tickets, but it gives the PSL owner first right of refusal for any event going on in the stadium. The Super Bowl was the only exception to this rule at the Georgia Dome. They typically have upgraded and oversized seats as well. Simple enough.

The value of a PSL is ultimately dictated based on the number of events held at the venue. The more events going on in the stadium, the more the venue can charge for the PSL.

The problem with the Georgia Dome is that back in the early 90s, right after it was built, there were a ton of events at the Dome. The Omni was run down and mostly unsuitable for concerts. There were a lot of big concerts that came to the Dome as well as Olympic events. And during the Phillips Arena construction, the Hawks played there.

Then in 1999, Phillips Arena was built and took over most of the concerts and the Hawks.

Since then it's become the Falcons, Chik-Fil-A Bowl, SECCG and SEC basketball tournament and those highly valuable GSU football games. And this year the NCAA basketball tournament. Still a decent offering but not what it was in the 90s.

So here's what Arthur Blank is looking at. The Falcons are doing well but he hates them playing games in a dome, especially when the weather is good. The MLS wants to give Blank an expansion team but they need a stadium and the Georgia Dome isn't an option. College football is setting up the playoff and largely based on the incredible success of the Chik-Fil-A Bowl - for those who don't know, it's quietly the most profitable bowl game, selling out every year - Atlanta and Dallas appear to be positioned to join the playoff rotation. And of course Atlanta can put itself in position for another Super Bowl.

Bottom line is that Blank was going to have to build a stadium for MLS anyway. But biting the bullet, he can add the MLS and probably college playoff games, plus there will surely be concerts and other events attracted to a new state-of-the-art stadium. Bottom line is that by adding all these events to the PSL offering, he makes them easier to sell and can sell them at a higher price.

So what is particularly misleading about that article is that yes, PSL buyers are going to end up paying for the stadium, but they're going to be getting a lot more events for the money. It's really a win-win for everyone involved.

[atlantagator86]

Originally Posted by Swampmaster

Anyone who thinks Atl will pay "only" $200 mil on this palace is in fantasyland

I believe it! Blank is going to pay for the stadium and ultimately, like Jerry Jones, he is going to make an absolute butt-load of money off of it. What's so hard to believe about that?

[Brodeur]

Originally Posted by tilly

2. The taxpayers of Atlanta are not funding the stadium. 80% is ownership. 20% from tourists.

I think most people staying in Atlanta hotels are traveling for business, not tourists.

[gatorev12]

If Blank wants a MLS team--there will be a TON of scheduling conflicts throughout the course of the year.

The MLS season runs from March-October, with playoffs running into November. It would get in the way of NCAA tournament bids and NFL games too. Plus, MLS is trying to get away from NFL stadiums for soccer games because most markets only average 18,000 fans and that looks a bit minuscule when in a stadium built for 80K

[tilly]

Originally Posted by Brodeur

I think most people staying in Atlanta hotels are traveling for business, not tourists.

Semantics. The residents won't be paying the tax

[RayGator]

OK, fine then. Let the citizens of Atlanta keep their Dome stadium. It's a great venue in a great location. Many games and events are played there every year. And it's not like it's a 100 year old dump and an embarrassment for them.

Then let the owners of the Falcons put their money where their mouth is. That means exactly 100% for them for the cost of building a new stadium. Let them buy some land in the Atlanta area. Then go and build exactly what will make them happy and not embarrassed to play in. And every 10 years or so when they no longer like what they got, because maybe some other NFL team now has something newer and neater, they can spend their money to tear it down and build themselves a new one!

So then it's a "win win" for everyone! The citizens and taxpayers in Atlanta and Fulton County have their Georgia Dome in a great location with games and events there every year. And the NFL Falcons will have their games played in their ideal stadium!

Two great stadiums and everyone is happy! Problem solved! That was easy!

OK, next.

[jewood592]

Originally Posted by gatorglenn

The Dome is a good stadium but the Falcons want a new state of the art facility. An open one, not a dome. Maybe a retractible roof?

Glenn

They just built the dome in 1990 or somewhere very close to that. It was state of the art when it went up. I remember all of the coverage on it and how it had smaller tv's all thorough the stadium so people could watch the game love or on tv. Hard to believe it's almost 25 years old now.

[RayGator]

And to NFL owners that's the same as 100 years old.

"Build me a new one and I want it right now!"

[TheGator]

Originally Posted by RayGator

OK, fine then. Let the citizens of Atlanta keep their Dome stadium. It's a great venue in a great location. Many games and events are played there every year. And it's not like it's a 100 year old dump and an embarrassment for them.

Then let the owners of the Falcons put their money where their mouth is. That means exactly 100% for them for the cost of building a new stadium. Let them buy some land in the Atlanta area. Then go and build exactly what will make them happy and not embarrassed to play in. And every 10 years or so when they no longer like what they got, because maybe some other NFL team now has something newer and neater, they can spend their money to tear it down and build themselves a new one!

So then it's a "win win" for everyone! The citizens and taxpayers in Atlanta and Fulton County have their Georgia Dome in a great location with games and events there every year. And the NFL Falcons will have their games played in their ideal stadium!

Two great stadiums and everyone is happy! Problem solved! That was easy!

OK, next.

I don't think it would be that easy. If the new stadium has a retractable roof and etc, I am sure it would become the preferred venue. I could see the SECCG moving to the new stadium, along with the the other college games. Who would continue to use the Georgia Dome when they could have a nicer stadium in the same city?

[RayGator]

Well OK. Whatever the folks in Atlanta would like is certainly fine with me. 2 great stadiums is fine. Again the NFL Falcons get and have what they pay for wherever it may be located. The Georgia Dome is an excellent stadium in an excellent location!

I don't know why the SEC CG would change locations and leave the Dome. The game is played every year on the first Saturday in December. So of course the Dome is closed and if they played at a retractable roof stadium, I'm sure the retractable roof would would be closed. It's December, even in north Georgia.

[anstro76]

Originally Posted by RayGator

Well OK. Whatever the folks in Atlanta would like is certainly fine with me. 2 great stadiums is fine. Again the NFL Falcons get and have what they pay for wherever it may be located. The Georgia Dome is an excellent stadium in an excellent location!

I don't know why the SEC CG would change locations and leave the Dome. The game is played every year on the first Saturday in December. So of course the Dome is closed and if they played at a retractable roof stadium, I'm sure the retractable roof would would be closed. It's December, even in north Georgia.

If they are still waiting to hear from the CNN and congress center I'm guessing it's going up in the same place

Sent from my mind using ESP

[atlantagator86]

Originally Posted by jewood592

They just built the dome in 1990 or somewhere very close to that. It was state of the art when it went up. I remember all of the coverage on it and how it had smaller tv's all thorough the stadium so people could watch the game love or on tv. Hard to believe it's almost 25 years old now.

It opened in 1993, so it's actually only 20 years old.

[GatorDoc74]

Originally Posted by danky1313

How is it a sad commentary on our society that a self-made billionaire always gets what he wants because he has the money to do so?

If you were a billionaire you're telling me you wouldn't use that to ensure things are done to what you expect them to be? I don't think the other poster was inferring Blank uses his $ and influence in an underhanded manner to "always get what he wants" so why would it be sad?

* Forgive me if I misunderstood though the meaning in which you meant for that to sound.

I understand the "golden rule". I also understand that very wealthy individuals will use that wealth to obtain what they want, if they can. Sometimes this can be beneficial to society, sometimes it can be relatively harmless, and sometimes it isn't.

The original poster seemed to indicate that Blank would get his way with this new stadium, regardless of whether it was good for Atlanta, regardless of whether it would end up costing a substantial amount of revenue which would need to be covered by the citizens of Atlanta, and regardless of whether it was good for the SEC and the fans of the various sporting events held in the Dome. That's what I felt was a "sad commentary", that something which in most ways could or would be a negative for the majority of the population would occur just because it benefited a very wealthy individual.

I'm not naive. I understand the intersection of politics, power and money. Arthur Blank may be a visionary, and this new stadium may turn out to be the best decision that Atlanta will ever make. It may turn out to be a tremendous asset to the city and its citizens. It may turn out to the the best and most comfortable stadium that the SECCG and SEC fans have ever seen. I truly hope it ends that way.

Or Arthur Blank may turn out to be just another pro sports owner who forces the taxpayers to pay for a majority of the venue where his team plays, just so he can make a much bigger profit. This could turn out to be another example of the majority of the risk being thrust upon the taxpayers, but with the majority of any profits going to a private entity. We saw a lot of that during the last financial crisis.

I hope this doesn't turn out to be the case, and in this case I suspect it won't. But time will tell.

[atlantagator86]

Originally Posted by RayGator

OK, fine then. Let the citizens of Atlanta keep their Dome stadium. It's a great venue in a great location. Many games and events are played there every year. And it's not like it's a 100 year old dump and an embarrassment for them.

Then let the owners of the Falcons put their money where their mouth is. That means exactly 100% for them for the cost of building a new stadium. Let them buy some land in the Atlanta area. Then go and build exactly what will make them happy and not embarrassed to play in. And every 10 years or so when they no longer like what they got, because maybe some other NFL team now has something newer and neater, they can spend their money to tear it down and build themselves a new one!

So then it's a "win win" for everyone! The citizens and taxpayers in Atlanta and Fulton County have their Georgia Dome in a great location with games and events there every year. And the NFL Falcons will have their games played in their ideal stadium!

Two great stadiums and everyone is happy! Problem solved! That was easy!

Listen, if Arthur Blank was threatening to move the team if the city of Atlanta wouldn't build a new stadium, like most owners do, I'd be up in arms. But that's not what's happening.

Blank has very specific business reasons for needing a new open-air/retractable roof stadium and he's willing to pay for most of it. At the same time, this stadium is going to benefit the city of Atlanta by bringing an MLS team, the Super Bowl and other events.

The city of Atlanta isn't complaining about paying the $200 million. They're happy and they know the city will benefit from it. Atlanta residents, at least those who understand what's happening, are happy. Blank is happy. Everybody in Atlanta wins!

The SECCG will probably be an even better viewing experience! So why do so many of you who don't even live here care?!

Atlanta has been very fortunate to have 2 team owners, Ted Turner and now Arthur Blank, who built empires in Atlanta, and personally made a ton of money, and both have gone out of their way to put a lot of that money back into the city. Though not through sports, Bernie Marcus has also gone out of his way to put money back into the city of Atlanta.

[atlantagator86]

Originally Posted by GatorDoc74

I understand the "golden rule". I also understand that very wealthy individuals will use that wealth to obtain what they want, if they can. Sometimes this can be beneficial to society, sometimes it can be relatively harmless, and sometimes it isn't.

The original poster seemed to indicate that Blank would get his way with this new stadium, regardless of whether it was good for Atlanta, regardless of whether it would end up costing a substantial amount of revenue which would need to be covered by the citizens of Atlanta, and regardless of whether it was good for the SEC and the fans of the various sporting events held in the Dome. That's what I felt was a "sad commentary", that something which in most ways could or would be a negative for the majority of the population would occur just because it benefited a very wealthy individual.

I'm not naive. I understand the intersection of politics, power and money. Arthur Blank may be a visionary, and this new stadium may turn out to be the best decision that Atlanta will ever make. It may turn out to be a tremendous asset to the city and its citizens. It may turn out to the the best and most comfortable stadium that the SECCG and SEC fans have ever seen. I truly hope it ends that way.

Or Arthur Blank may turn out to be just another pro sports owner who forces the taxpayers to pay for a majority of the venue where his team plays, just so he can make a much bigger profit. This could turn out to be another example of the majority of the risk being thrust upon the taxpayers, but with the majority of any profits going to a private entity. We saw a lot of that during the last financial crisis.

I hope this doesn't turn out to be the case, and in this case I suspect it won't. But time will tell.

Let me jump back to the point I made in the last post. Arthur Blank is not like most NFL or other sport team owners. He's nothing like Jerry Jones or Mark Cuban.

My first job out of college was doing advertising for the Home Depot corporate offices. And 1 thing I can said with no reservation is that both Bernie Marcus and Arthur Blank are 2 of the most decent business owners I've ever known of.

These guys are not egotistical maniacs like most business owners. Their offices were not much nicer than any of their executives, which were not fancy either. They drove themselves to work. They rode the elevators and talked to everybody. They worked out every day in the employee fitness center with the guys working in the mail room. They are down to earth guys.

When they moved out of the day-to-day management of the company, they took a lot of money with them and they both immediately started putting that money back into the city of Atlanta.

Bernie Marcus GAVE $250 million to help build the Georgia Aquarium. And he's a volunteer and Board Member for the Shepherd Center. Blank has been a GREAT owner for the Falcons and considered buying the Braves and was even involved in possibly keeping the Thrasher in town, except the Thrasher owners made keeping the team here unreasonable. Now he wants to bring an MLS team here.

But these guys are stupid. They aren't throwing money away. They are making investment in the city of Atlanta.

The point here being that Blank isn't doing this just to make a quick buck or screw over the city of Atlanta. He's doing this because he feels it's a smart investment and the city of Atlanta apparently agrees with him. He hasn't made a bad business decision yet that I'm aware of.

[tec68]

Blank is paying $800 million, which is 80%.

Not many owners would do that.