Both Atlanta Falcons officials and Atlanta Mayor Kasim Reed have started referring to the team’s new stadium opening in 2017 as a $1.6 billion facility, which probably means it now costs $1.6 billion, though there’s been no official announcement. That’s up from $1.5 billion in April, which is up from $1 billion in late 2013, which was already a pretty crazy amount of money to spend to build a new stadium to replace a 20-something-year-old one next door.
Now, Falcons owner Arthur Blank recently revealed that the amount of public money for the stadium is now “almost $700 million,” up from almost $600 million at last accounting, probably because projections of the hotel-motel tax that will go into the stadium’s “waterfall fund” for future maintenance and operations have risen. Still, that’s a hefty sum for Blank to pay, on top of a hefty sum that Atlanta citizens will be paying (yes, they’re paying it even if comes from a tourist tax, since once the city collected the tax money it’s the city’s to spend however it likes). It seems inconceivable that this will end up paying off for anyone, but apparently this is what Jerry Jones and the taxpayers of Arlington have wrought.