NFL Team Reaches Deal With City to Build $2.2 Billion Domed Stadium

By Brian Jones

One NFL team will have a new stadium very soon. On Monday, the Tennessee Titans announced they have agreed to terms with the city of Nashville to build a new domed stadium that will cost $2.2 billion. The Titans have been playing in Nissan Stadium in Nashville since 1996, and the lease for the stadium runs through 2039. However, a consulting firm called Venue Solutions Group (VSG) said that renovating Nissan Stadium would cost nearly $2 billion over the remaining 17 years of the current stadium lease. The domed stadium will be built at no cost to the city's general fund. 

"This new stadium proposal protects Metro taxpayers by not spending a single dollar that could be spent elsewhere on our core priorities like education and public safety," Nashville Mayor John Cooper said in a statement. "Doing nothing was not a legal option for us, and renovating the current stadium proved to be financially irresponsible, so we are proposing a new stadium paid for by the team, the state, tourists and spending around the stadium — not by your family." 

The proposed stadium would be built directly east of Nissan Stadium on land that is used currently for parking lots. The Titans, NFL and PSL sales will pay $840 million of the $2.2 billion while $500 million will come from the state. The remaining $760 million will come from revenue bonds issued by the Metro Sports Authority. 

"When my father brought this team to Tennessee 25 years ago, I don't think he could have imagined a better home for our organization," Titans controlling owner Amy Adams Strunk said in a statement. "The way the people of Tennessee have embraced this team as their own is truly something special, and I am thrilled that with this new agreement, we will cement our future here in Nashville for another generation."  

The Titans said the new stadium could be ready as early as the 2026 season. This move will also allow Nashville to host big events throughout the year such as the Super Bowl and WrestleMania. The domed stadium will also be home to up to four Tennesee State University football games each year, and the school's team will have a dedicated locker room in the facility. 

0comments
Start the Conversation

of