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Saturday, June 22, 2024

Latest Proposal for New $2.1B Titans Stadium Approved By Mayor

  • The legislation will go before the Nashville Metro Council on March 7.
  • The project's $1.26B in public funding is the most ever for an NFL stadium.
Artistic rendering of the new Tennessee Titans stadium in Nashville.
Tennessee Titans

After months of planning and deliberation, plans for the Tennessee Titans’ new stadium appear to finally be moving forward.

The office of Nashville mayor John Cooper recently filed legislation providing more details on the deal to construct the Titans’ new $2.1 billion stadium in Nashville.

The new proposal takes into account feedback from the Nashville Metro Council and the city community at large after the mayor approved an initial plan in October.

This final agreement adds “key details in the form of development and lease agreements,” as well as “street and plaza infrastructure to be covered by the Titans, in addition to infrastructure required to open the new stadium,” per The Tennessean.

The project will rely on revenue bonds, sales and hotel tax diversions and state contributions, adding up to $1.26 billion in public money — the largest amount ever for an NFL stadium.

Once the proposal is approved, Nashville will start collecting a 1% hotel tax as part of that public funding.

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The legislation will go before the Metro Council on March 7, with a vote taking place by the end of April, according to Nashville Business Journal, which also expects the stadium to be completed by 2027.

It’s the culmination of a long process that began in February 2022, when the Titans decided that building an entirely new stadium would be preferable to making at least $600 million in upgrades to their current home, Nissan Stadium.

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