Falcons increase credit line to $200M

8:26 AM, Nov 28, 2012   |    comments
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ATLANTA -- While negotiations continue over building a new $1 billion stadium, the Atlanta Falcons have increased their credit line to $200 million.

The Falcons say the funds can be used for any legal purpose. But, they said they didn't specifically seek the credit line to help pay for a new stadium.

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"The NFL recently increased the allowable debt limit of NFL clubs from $150 million to $200 million," Kim Shreckengost, executive vice president and chief of staff for AMB Group, the parent company of the Falcons, said in an email. "The Falcons, along with many other clubs, has since increased its line of credit for purposes of operating, capital and other potential cash needs."

The amendment to the credit line was approved at the Nov. 26 meeting of the Georgia World Congress Center Authority (GWCCA), which oversees operations at the Georgia Dome.

Negotiations on a new stadium are still under way. A term sheet between the Falcons and the GWCCA could be finalized in December.

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