COST OF NEW ATLANTA FALCONS STADIUM RISES TO $1.4BN

The cost of NFL outfit Atlanta Falcons' new stadium has risen to $1.4billion.

The initial cost of the venue was set at $1billion, which later rose to $1.2billion.

But the Georgia World Congress Center Authority approved an extra $200million worth of funding on Tuesday, as the Falcons prepare for their Georgia Dome Stadium to be replaced in 2017.

The new budget includes $1.078 bn for construction costs, with the remainder going on design, development and other non-construction aspects of the facility.

Greg Beadles, the team's chief administrative and financial office, said: "More detailed design plans allowed us to more accurately budget the cost of the stadium.

"At the same time, construction costs across the board continue to increase as the economy improves and demand grows."

Posted on 04/12/2014