Falcons Owner Talking With State on Georgia Dome Deal

Blank has already told the state-owned Georgia World Congress, which oversees Georgia Dome operations, he is ready to invest up to $150 million to help the Dome with its current financial crisis--but wants to know how he can reap a return on his money. Blank inherited the current deal his team has with the Dome when he bought the National Football League team in 2002 for $545 million.

Under the initial purchase arrangement, the Falcons agreed to use the Dome as its home gridiron until 2020 when it would be free to look for another stadium or even another city location. "The state is anxious to keep the Falcons at the Dome and is ready to cut almost any deal with Blank," an Atlanta sports real estate consultant intimate with an insider on the negotiations tells GlobeSt.com.

For his part, Blank has told state officials he is just as anxious to keep the Falcons in Atlanta which is bidding for the 2009 Super Bowl along with Tampa, Miami and Houston. The winning city will be announced in May at the National Football League owners' annual meeting in Washington, DC. Atlanta last hosted the Super Bowl in 2000.

Blank would like to expand the Dome's seating capacity of 71,250 to about 73,000, sources close to the Falcons tell GlobeSt.com. Other proposed improvements to the property would include new restaurant and retail space near the entrance. That space would be open year-round, contributing to the property's total revenue base. The Falcons provide about 70% of the Dome's total revenue, according to team officials.

Blank also envisions adding 20 corporate seats to the existing 203 suites. He also would increase the 4,600 club seats to about 5,100.