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NFL approves $200 million loan for Falcons' new stadium

Boston, MA (Sports Network) - NFL owners have approved a $200 million loan for the construction of a new multi-purpose building in Atlanta to become the home for the Falcons.

News of a stadium agreement between the Falcons and the city of Atlanta came in March. The team has played in the Georgia Dome since 1992.

"The NFL has supported new stadium construction through various means for decades," said Falcons owner Arthur Blank in a statement Tuesday. "Our club owners understand that investments such as G-4 financing are important to the long-term strength of the league, and we thank them for their support.

"We are pleased with the outcome of today's vote, and we look forward to continued progress in designing and constructing the new multi-purpose stadium over the next four years. We, along with our City of Atlanta and State of Georgia partners, are excited to participate in a project that will benefit the city and state for many years to come."

The Falcons are hoping to play in a new building for the start of the 2017 season.

05/21 11:03:57 ET