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Friday, June 14, 2024

Titans, Nashville Wrapping Up Plans for $2.2B Domed Stadium

  • The Titans’ current lease at Nissan Stadium runs through 2039.
  • The team claims the city would owe $1.8 billion under the current terms.
Kirby Lee-USA TODAY Sports

The Tennessee Titans and Nashville’s Metro Council are finalizing details for a new $2.2 billion stadium that include a $200,000 study regarding the team’s current lease at Nissan Stadium. 

In January, the Titans planned upgrades at Nissan Stadium that would have cost up to $600 million. The team’s current lease requires the city of Nashville and taxpayers to pay for maintenance. Those rising costs have been highlighted by city leaders. 

  • The Titans’ current lease at Nissan Stadium runs through 2039.
  • The team claims the city would owe $1.8 billion under the current terms.
  • Nashville would be obligated to pay $894 million for upgrades between 2026 and 2039. 

The Titans — valued at $2.6 billion — plan to build a 1.7 million-square-foot, domed stadium in Nashville slated to open for the start of the 2026 NFL season. The venue could also host major sporting events, including WrestleMania, NCAA championship events, and the Super Bowl

Payment Plan

The Adams family, owners of the Titans, will contribute $700 million to the new stadium project, while Metro City Council will provide roughly $700 million via revenue bonds. Metro Nashville Sports Authority will also add another $700 million.

Metro is also exploring additional funding by raising the city’s hotel-motel tax. In April, it submitted an amendment to a bill in the House finance subcommittee to raise the tax from 6% to 7%.

The increase is likely to generate an annual $10 million in additional revenue.

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