Mayor presents stadium financing proposal for Nashville bid - WSMV News 4

Mayor presents stadium financing proposal for Nashville bid

Posted: Updated:
Artist's rendering of the proposed stadium. (Source: MLS2Nashville) Artist's rendering of the proposed stadium. (Source: MLS2Nashville)

NASHVILLE, Tenn. (AP) - Mayor Megan Barry has proposed a $250 million stadium deal as the final piece in Nashville's bid for a Major League Soccer expansion team.

Under the plan presented Monday to the Metro Council, Nashville would issue $200 million in bonds for the 27,500-seat stadium and another $25 million for infrastructure surrounding the stadium at the city fairgrounds. The private owners in MLS2Nashville would be responsible for $25 million and any construction cost overruns.

The council could approve the bond resolution as early as Oct. 17.

MLS requires a solid stadium plan for an expansion franchise.

Twelve locations expressed interest in an expansion franchises. Two winning bids are expected to be announced later this year, bringing the league to 26 teams, with two additional teams to be added in the future.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly
WSMV
Powered by WorldNow CNN
All content © 2017, WSMV; Nashville, TN. (A Meredith Corporation Station) . All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.