Buckhead Resident and Falcons Owner Arthur Blank Served with Divorce Papers

Atlanta Falcons owner and Buckhead billionaire Arthur Blank has been served with divorce papers from his wife of 16 years, Stephanie, from whom he has been estranged since October 2011.

According to reports, Stephanie Blank filed the papers in Fulton County. The papers called the union "irretrievably broken," and the parties have reached a confidential settlement agreement, which also covers their Buckhead home on West Paces Ferry Road.

Just weeks after the couple's split was announced in 2011, it was announced Arthur Blank sold his other Buckhead mansion on Tuxedo Road for $3.9 million, what he'd paid for it when he bought it in 1993, according to a report from the Atlanta Journal-Constitution. The deal on the home was closed before the couple announced their estrangement, however.

She is the mother of Arthur Blank's three children and 25 years his junior. Their agreement also includes a "comprehensive parenting plan" so that each of them is actively involved in their lives of their school-age children.

Blank, who bought the Falcons in 2002, is also the co-founder of The Home Depot and head of The Arthur M. Blank Family Foundation, which supports charitable causes, including fighting childhood obesity and Georgia and supporting development of the Atlanta Beltline transit and parks project.

The Daily Mail reports that a release from the couple stated that Arthur and Stephanie Blank would "remain great friends and are committed to working together to parent their three wonderful children. They are also both as committed as ever to their philanthropic work and business enterprises in the community.This is a sad and difficult time for Arthur, Stephanie and their family."

In April 2012, Buckhead Patch reported that Arthur Blank signed The Giving Pledge, a