The Tennessee Titans could be on the receiving end of the most public money ever allocated for an NFL project with their proposed domed stadium.
Earlier this month, Nashville mayor John Cooper agreed to a deal with the NFL to build a new stadium that can host major sporting events including the Final Four and Super Bowl — to the tune of up to $2.2 billion.
- The pending project is expected to receive a $500 million bond from the state.
- The bond includes interest — and state taxpayers will be responsible for it.
- A 1% tax on hotel rooms in Davidson County will help fund the project, as well as a sales tax at the new stadium and on its 130-acre campus.
The Titans could surpass the Las Vegas Raiders’ $750 million in public funds to open Allegiant Stadium in 2020 for $1.97 billion.
It would also put the project ahead of the Indianapolis Colts’ Lucas Oil Stadium, which used $620 million in public funds to open the $720 million facility in 2008.
Trust the Process
The proposed domed project is still awaiting approval by the Nashville Metro Council, which commissioned a “condition assessment” in June at Nissan Stadium — the Titans’ current home — after the team claimed that upgrading the facility would cost roughly $1.8 billion.
The expensive upgrades were a stark increase from the $293.2 million consulting company Venue Solutions Group said was needed to keep Nissan Stadium viable through 2037.