Titans, Nashville reach deal for domed, $2.2B stadium

NASHVILLE, Tenn. — The Tennessee Titans have an settlement in place with Nashville Mayor John Cooper to construct a brand new stadium in accordance with a report by Axios.

The 1.7-million-square-foot stadium may have a dome, making it doable to host a Tremendous Bowl and different main occasions year-round. Will probably be situated east of Nissan Stadium alongside the East Financial institution.

The venture is claimed to price as much as $2.2 billion and should be permitted by Metro Council.

Titans possession has reportedly agreed to place up $800 million to assist fund the venture. The stadium additionally can be funded by a $500 million funding by the state.

Different funding features a 1% tax on native resort room leases in Davidson County together with gross sales taxes collected inside the new stadium.

The deal is a results of Nissan Stadium needing renovation after 23 years of damage and tear. A provision within the present lease requires the stadium’s situation to be saved on par with different sports activities venues constructed across the identical time.

That venture was going to price roughly $1.8 billion over the following 17 years. Cooper referred to as it “financially irresponsible” to renovate Nissan Stadium as a substitute of constructing a brand new facility, which supporters say would appeal to extra vacationers year-round. However the Nashville Metro Council has reportedly been reluctant to approve extra huge spending for tourism tasks. The brand new stadium would characterize the most important constructing venture in Metro historical past.