Atlanta Magazine – Why won’t the Falcons and Braves reveal their stadium sponsorship costs?

Read the full story at: http://www.atlantamagazine.com/news-culture-articles/why-wont-the-falcons-and-braves-reveal-their-stadium-sponsorship-costs/

…William Perry, president and CEO of the recently launched Georgia Ethics Watchdogs, says it’s in the public interest for Blank and Cannon to release the deal’s terms. He says the public’s actual tab for the Falcons stadium will amount to more than just $200 million in bonds—the figure Atlanta officials have frequently cited as the cap for the public funding component of the stadium project, an amount that will come from the city’s hotel-motel tax. Perry argues that the true taxpayer cost could be much higher when taking into account the interest on the bonds ($448 million), a sales tax exemption for construction costs ($25 million), deals to buy land from two historic black churches ($34 million), and community redevelopment funds ($15 million). Both the Falcons and the Braves have qualified for state property sales tax exemptions that will save the organizations millions over the life of the stadiums.

“It’s a double standard when they’re taking in so much public money and are not disclosing private money in the naming of a public building,” Perry says. “It’s not against the law, but it isn’t what you’d expect from a good corporate partner in terms of their community and fan base.”…

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