FROM THE ASSOCIATED PRESS
ATLANTA — The Atlanta Hawks have agreed to an 18-year lease extension and are planning a $192.5 million renovation of Philips Arena, with the city providing the bulk of the funding according to a story from the Associated Press.
The city of Atlanta will contribute $142.5 million toward the project, which will most noticeably alter the look of the luxury boxes stacked on one side of the arena. There will be new amenities, a variety of different-size suites, improved sightlines for basketball, a state-of-the-art video system, and connected concourses throughout the 17-year-old facility.
Philips Arena originally was built to host both the NBA’s Hawks and the NHL’s Atlanta Thrashers. The hockey team moved to Winnipeg in 2011.