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Falcons Closed $850M in New Financing Today - Yikes


Falconwhit
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OK, I just read this article.  

http://www.ajc.com/news/sports/football/falcons-close-on-850m-in-stadium-financing/nsNXY/

Falcons brass is all excited about how $850M in new long term financing "came a year earlier than expected due to the great enthusiasm of the new stadium."  Cough, cough.  Um....I heard recently that only about 55% of the PSLs have been sold.  It seems that this loan and refinancing was done because they had to.  Due to the lethargic (and justified) response from season ticket holders and their lack of buy-in for forking over the dough for PSLs.   When will this organization get out of complete denial?  Especially with the product that may be gracing us this year.....

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11 minutes ago, A Dog Named Brian said:

Some of you guys should just stick to internet forums. They got the money earlier because banks saw it as a good investment, which happens in the world of finance by the way :bang::bang:

Hyuck Hyuck, havent you heard? Falcons gonna go broke cause Ryan sucks. 

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1 hour ago, Falconwhit said:

OK, I just read this article.  

http://www.ajc.com/news/sports/football/falcons-close-on-850m-in-stadium-financing/nsNXY/

Falcons brass is all excited about how $850M in new long term financing "came a year earlier than expected due to the great enthusiasm of the new stadium."  Cough, cough.  Um....I heard recently that only about 55% of the PSLs have been sold.  It seems that this loan and refinancing was done because they had to.  Due to the lethargic (and justified) response from season ticket holders and their lack of buy-in for forking over the dough for PSLs.   When will this organization get out of complete denial?  Especially with the product that may be gracing us this year.....

Wrong sir. Not how financing works

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From what I read the refinancing is simply a customary conversion of the construction loans (short-term) to longer term (lower interest rate) loans.  The Falcon's had anticipated doing this next year, but were able to get such favorable rates now that they went ahead with it. 
 

AJC Article

Edited by brewman
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16 hours ago, Falconwhit said:

OK, I just read this article.  

http://www.ajc.com/news/sports/football/falcons-close-on-850m-in-stadium-financing/nsNXY/

Falcons brass is all excited about how $850M in new long term financing "came a year earlier than expected due to the great enthusiasm of the new stadium."  Cough, cough.  Um....I heard recently that only about 55% of the PSLs have been sold.  It seems that this loan and refinancing was done because they had to.  Due to the lethargic (and justified) response from season ticket holders and their lack of buy-in for forking over the dough for PSLs.   When will this organization get out of complete denial?  Especially with the product that may be gracing us this year.....

Obviously the people that financed the deal aren't as concerned as you are. In fact, quite the opposite. You seem to forget that this stadium will also be home to the Atlanta United MLS team, and will also host numerous major sporting events including the Super Bowl. Mercedes Benz wants to put their name on it, so that's already a steady of income coming in for the next 5-10 years. These investors seem confident that this stadium will be around for awhile and that the debt will be paid off, and in a timely manner.

So, unless you have all the details of how and where this stadium will be generating its income from (and what I mentioned is just a few), what good reason do you have to be such a negative nancy about this financing deal?

Edited by JerseyNo12
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