So maybe it's not all that surprising he wants a spiffy new place of his own even though the team's current stadium is only 14 years old.
Blank said Wednesday that he's ready to start negotiations on a downtown stadium that would replace the Georgia Dome sometime in the next decade. He acknowledged that it would be a long process, but said the time is right to begin discussing a deal that will allow the Falcons to keep putting a competitive team on the field.
``The dome is beginning to show its age,'' Blank said in an interview at the team's training complex. ``We need to think about this far enough out so we can make a thoughtful decision.''
Blank's proposal for a new stadium caught Georgia Dome officials a little off guard. While they have a good relationship with the Falcons, they have been looking toward stadium improvements and revenue enhancements not an entirely new facility.
``Arthur is thinking farther ahead on this than we are,'' said Dan Graveline, executive director of the Georgia World Congress Center Authority, which manages the dome. ``This is new idea on the block. I'm sure the time will come when we all have to do that. But this is a gleam in Arthur's eye right now. That's OK. We don't begrudge him that.''
Blank said a new stadium is crucial to maintaining a competitive team, a position no doubt influenced by studies such as the one that came out last week in Forbes magazine.
The Falcons were valued at $730 million in the magazine's annual survey, ranking next-to-last in the NFL ahead of only the Minnesota Vikings ($720 million). By comparison, the Washington Redskins topped the list with an estimated value of $1.423 billion.
According to Forbes, Atlanta's revenue last year was $170 million, also just ahead of last-place Minnesota, and the team had an operating profit of $6.6 million.
Blank believes the deal with the dome makes it impossible for the Falcons to generate as much revenue as teams with newer stadiums, many of which are allowed to keep all the income from suite sales, concessions and parking.
The Falcons basically have a profit-sharing arrangement with the dome, splitting what's left after money is doled out for debt service and operating costs. The team is obligated to play in the $200 million stadium until the bonds that financed its construction are paid off in 2020, though both Blank and Graveline project the debt could be retired earlier.
That's why Blank wants to get moving now, believing he could be positioned for a new stadium by 2015 or 2016.
Looking at the 23 new stadiums that have been built in the league since the Georgia Dome opened, he said it takes an average of eight years from the initial discussions to actually moving into a new facility.
``There's not an incredible sense of urgency,'' Blank said. ``We just want something that gives us a chance to compete. We're not looking for the best deal. We're just looking for a competitive deal.''
The 70-seat dome has plenty of luxury suites (204) but only 4,400 club seats far below division rivals Tampa Bay (12,000) and Carolina (11,300). Graveline said there's room to restore some 1,400 club seats that were taken out years ago when the Falcons had trouble selling them all.
Even though his team headquarters and practice facility are located in the far northern suburbs, Blank said he favors keeping the Falcons downtown, preferably at or near where the current stadium is located. Atlanta has sold out 33 consecutive games at the Georgia Dome and has a waiting list of 60,000 for season tickets.
``We love the location of the dome,'' Blank said. ``We have a great relationship with the authority. But the relationship is not state of the art financially.''
It's unlikely that either the Falcons or the dome would consent to tearing down the current facility and building an entirely new stadium on the same site. That would force the team to find a temporary home for at least two years, deprive the World Congress Center of a major venue for its convention business and force out events such as the Southeastern Conference championship and Chick-fil-A Bowl.
Graveline said there's about some 30 acres just north of the dome that might work for a new stadium. It's currently used for event parking and providing space for trucks that supply events at the World Congress Center.
``It would require a little bit of head scratching, but we do have some chunks of land around here,'' he said.
There are plenty of other issues to consider. Would the new stadium have a retractable roof, such as those in Phoenix and Houston? If so, who would pick up the enormous costs, estimated by Graveline to be three or four times what the current facility cost?
Blank had proposed major upgrades for the dome in hopes of landing a future Super Bowl. Rebuffed twice in those efforts, he's still planning to announce significant improvements to the stadium next week.
``We want to continue to give our fans a great game-day experience,'' he said.
(Copyright 2006 by The Associated Press. All Rights Reserved.)
http://accesswdun.com/article/2006/9/104641