The GMP amount and the NSP budget were approved by the board in accordance with the terms of agreements between Atlanta Falcons Stadium Company and the Georgia World Congress Center Authority. A GMP sets the maximum price to be paid to the general contractor for construction of the new stadium. The final budget reflects the establishment of a guaranteed maximum price (GMP) of $1.078 billion by Holder Hunt Russell Moody (HHRM), the stadium general contractor joint venture, for construction of the stadium.
We should know soon whether or not that will be their last game ever on that field.Atlanta, Ga., December 2, 2014 – Atlanta Falcons representatives today presented to the Georgia World Congress Center Authority Board the final budget for the new Atlanta stadium.
Either way, the Raiders play their last home game of the season on December 21 against the Buffalo Bills. The current and decades-old Coliseum is the home field for both the Raiders and the A’s, and the whether or not a new stadium will accommodate both teams is the major issue. At the end of this season, the Raiders lease at O.co Coliseum is up and, pending NFL approval, the team will have the option to move to a new home (and city) from there. Meanwhile, across the country, fans in Oakland are awaiting news about their own team’s near-future in that city. The project is a private-public venture-the public funds for the stadium are capped at $200 million-and the team’s Chief Administrative and Financial Officer said outright that the Falcons have a “wide source of funding to support” to account for the latest cost increase. The NCAA has also already announced that the men’s Final Four tournament will be held at the New Atlanta Stadium in 2020. The space will also house a yet-to-be-named Major League Soccer expansion team that will begin playing in the city in 2017, the same year construction on the stadium is scheduled to complete. (The screen will form a full circle around the entire interior stadium and measure 63 feet tall the whole way.)
For reference, the new stadium design includes a pinwheel-looking retractable roof and plans for the largest high-definition video board in the world.
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