Titans told to loosen purse strings for digs

Article posted by Coliseum, September 23^rd, 2022

Image: Tennessee Titans

The Metro Council (Nashville, US) leaders met recently to discuss the future of the new stadium of the National Football League (NFL) team Tennessee Titans.

‘WSMV’ stated that the East Bank Stadium Committee heard from the Nashville Mayor’s (John Cooper) office members who broke down plans for the new stadium. The Tennessee Titans were not in attendance.

The Tennessee Titans are a professional American football team based in Nashville, Tennessee, US. The Titans compete in the National Football League (NFL) as a member club of the American Football Conference South division, and play their home games at the Nissan Stadium.

Apply for membership

The 69,143-capacity Nissan Stadium is a multipurpose stadium in Nashville, Tennessee, United States. Owned by the Metropolitan Government of Nashville and the Davidson County, it is primarily used for football and is the home field of the Tennessee Titans of the National Football League (NFL).

The Titans stadium is projected to cost $1.9 billion to $2.2 billion.

Earlier, it was reported that the domed stadium would be 1.7 million square feet, take 31 months to build and will be completed for a 2026 Titans season.

Development around the stadium could reach $4 billion.

On April 1^st, the Adams family – ownership behind the Titans – announced they will spend $700 million to fund the stadium project.

‘WSMV’ further stated that however, the City doesn’t have a final price for the new stadium’s cost, but officials said they want the Titans and the price investors to be the largest providers for that price tag.

The Mayor’s Office confirmed that a proposed term sheet would be made available if an agreement is reached with the Titans.

The City is required to provide a “first-class stadium” until 2038, and renovations to the existing stadium could cost between $600 million to $1 billion. A new stadium would cost $2 billion.

The State approved $500 million in revenue bonds for the project.

Mayor John Cooper assured that under no circumstances will property or sales tax increase to pay for the stadium and that the primary funding source will come from the Titans and tourism.

Cooper wants the Titans to take on financial responsibility of maintaining the stadium, removing Metro Nashville’s general fund as the financial backstop.

Continue to follow Coliseum for latest updates on venues business news. Coliseum is dedicated towards building the best global community of sports and entertainment venue executives and professionals creating better and more profitable venues.

Become a member of the only Global Sports Venue Alliance and connect with stadiums, arenas and experts from around the world. Apply for membership at coliseum-online.com/alliance and make use of the 365Coliseum Business.

Watch 250 member-exclusive videos with valuable tips for your venue