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Atlanta Falcons approved for $200 million in G-4 funding from NFL for new stadium

The Atlanta Falcons received $200 million in NFL G-4 financing for a new stadium to replace the Georgia Dome. (Kevin C. Cox/Getty Images) The Atlanta Falcons received $200 million in NFL G-4 financing for a new stadium to replace the Georgia Dome. (Kevin C. Cox/Getty Images)

The Atlanta Falcons have been approved for $200 million in G-4 stadium financing. The team's owner and chairman, Arthur Blank issued a statement making the announcement on Tuesday morning:

"Today’s approval by the NFL team owners is an important milestone in moving the new stadium project forward.

"The NFL has supported new stadium construction through various means for decades.  Our club owners understand that investments such as G-4 financing are important to the long-term strength of the league, and we thank them for their support.

"We are pleased with the outcome of today’s vote, and we look forward to continued progress in designing and constructing the new multi-purpose stadium over the next four years."

The team's current stadium, the Georgia Dome, opened in 1992 and cost $350 million (in present-year dollars) to build.

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