ATLANTA - Atlanta's mayor and Falcons owner Arthur Blank have agreed to financing terms for a new $1 billion, retractable-roof stadium to replace the 20-year-old Georgia Dome and keep the team's home games in the city's downtown, the two men said Thursday.
Mayor Kasim Reed said the city would provide $200 million of construction costs through bonds backed by the city's hotel-motel tax. The Falcons franchise, owned by Home Depot co-founder Arthur Blank, would provide $800 million and be responsible for construction cost overruns.
The Falcons would pay for up to $50 million in infrastructure costs not included in the construction budget and help retire the last few years of debt on the Georgia Dome, which was publicly financed entirely using the hotel-motel tax.
Also, Blank's private foundation and the city each would spend $15 million on surrounding neighborhood development (See full story).
Giants' Webster, Baas rework contracts
EAST RUTHERFORD, N.J. - New York Giants cornerback Corey Webster and center David Baas have re-worked their contracts for the 2013 season with the team, a person familiar with the situation said Thursday.
The person, who spoke on condition of anonymity because the Giants haven't announced the deals, told The Associated Press that the starters and the team just finished work on the contracts.
NFL Network first reported the agreements and said Webster took a $3 million pay cut. He had a disappointing 2012 season and will earn $4 million in the final year of his contract.
NFL Network also said Baas re-structured his five-year contract. He still will earn $4.25 million in third year but his base pay was lowered to $1.25 million. The other $3 million will come as a signing bonus (See full story).
Broncos look to Dumervil for cap relief
DENVER - The Broncos are asking defensive end Elvis Dumervil to take a pay cut so they can create more salary cap room for free agency.
Dumervil signed a six-year, $61.5 million contract in 2010 when Josh McDaniels was coaching the team and before John Elway joined the Denver front office. The seven-year veteran is scheduled to make $12 million in 2013.
The team wants Dumervil to take a cut or restructure his contract, according to a person familiar with the situation, who spoke to The Associated Press on condition of anonymity because details of the negotiations were not public (See full story).
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.