Arthur Blank is a businessman. His background that makes the Atlanta stadium a good thing.
The stadium deal caused a massive uproar around the city on radio and television airwaves and newspaper columns because it was originally proposed as a "publicly-funded" project. But the deal states he will pay $800 million of the $1 billion price tag out of his own pocket (Just imagine making that monetary promise to anyone or anything. $800 million...).
The other $200 million is coming from the state's hotel-motel tax, and estimates from Atlanta mayor Kasim Reed show that up to 85% of that revenue comes from outside of Georgia. And up to $150 million of that $200 million the city has promised will come back to the Atlanta economy when the Falcons host a Super Bowl, which has been promised by the NFL if they built a new stadium.
Blank owns this little company known as Home Depot which will presumably serve as the primary funding party. (Does this mean he can get discount prices on the building materials for the stadium, ths saving Atlanta money?) Blank's businessman past will make sure that the building is done right; being that he is funding 80% of it, I am sure it will be done at a much lower cost than if the state's taxes were footing the bill.
He is a businessman who also understands that building it now, not later, is important. Now is when the Falcons are experiencing unprecedented success as a franchise, with three consecutive playoff berths and coming up 10 yards short of this year's Super Bowl.
The often-accused-of-being-lazy Atlanta sports fan has come out to watch his or her Falcons as of late. And for outsiders who don't believe it, check ticket prices online and try to get one for reasonably close to face value. Sans Bobby Petrino-post-Michael-Vick-dog-fighting-days, Falcons fans have routinely filled up the Georgia Dome as well as any NFL fans, even before their present-day success (with the exception of Green Bay whose fanbase is absurd). Because of the city's newfound love for the Falcons—and its history of not always being so faithful—Blank knew he must get the deal done while morale is as high as its ever been.
In addition to the money he is putting towards the stadium, Blank has promised $15 million to the development of the surrounding areas. For those of you unfamiliar with Atlanta, you don't want to be caught around Georgia Dome too late at night, which is the case with many stadiums across the United States. Along with the neighborhood development, jobs will be created during the construction.
Blank is showing Atlanta that he cares, not only his football team but for its home city.
Plenty of jokes have been made, myself included, about how impatient the city of Atlanta and its football organization was towards getting a new stadium. Nostalgia becomes a large part of the negativity towards the deal because the Georgia Dome serves as more than just an NFL stadium to this state (hosting state playoff games, the 2007 and 2013 Final Four, the SEC basketball and football championships and other various college football games).
But now is the time to move past that because that stadium is going up. If you don't like it then don't use a hotel in Atlanta the next few years and don't go to a game at the new place when it is finished. I'll go ahead and thank you if you don't go so I will have a ticket at lower cost.
The stadium is a good thing for what it will bring to the city. You have an owner who is investing in Atlanta because he wants to win in and for Atlanta. Few fans are so lucky.
