A new study says it hardly makes fiscal sense to renovate the Tennessee Titans’ home stadium instead of building a new one.
Team officials announced that the estimated cost of upgrading Nissan Stadium would be a whopping $1.8 billion. Team president and CEO Burke Nihill described its current state as one of the “worst” in the NFL — and is calling for an entirely new venue.
- The lease for the stadium, which runs until 2039, stipulates that Nashville is on the hook to pay for repairs.
- As a result, the mayor’s office appears on board with building an entirely new stadium.
- In a statement, Mayor John Cooper acknowledged that refurbishment would “cost Nashvillians hundreds of millions of dollars.”
New Stadium Plan
The team has already announced plans for a new stadium that could cost up to $2.2 billion to construct. The venue, which could be elite enough to host a future Super Bowl, would be 1.7 million square feet, and include a dome.
Team owners would pay $700 million, and the state will provide $500 million worth of bonds. Hotel and sales taxes would cover the rest.