Stadium deal between Titans, Metro has uncertain future

The East Bank Committee met Wednesday night to discuss plans for the new Titans Stadium, which still seems to have an uncertain future.
Published: Sep. 14, 2022 at 8:29 AM CDT
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NASHVILLE, Tenn. (WSMV) - Metro Council leaders met Wednesday night to discuss the future of the new Titans Stadium.

The East Bank Stadium Committee heard from the Mayor’s office members Wednesday evening who broke down plans for the new stadium. The Tennessee Titans were not in attendance.

Ths city doesn’t have a final price for the new stadium’s cost, but officials said they want the Titans and price investors to be the largest providers for that price tag.

The Mayor’s Office confirmed that a proposed term sheet would be made available if an agreement has been reached with the Titans.

The city is required to provide a “first-class stadium” until 2038, and renovations to the existing stadium could cost between $600 million to $1 billion. A new stadium would cost $2 billion.

The state approved $500 million in revenue bonds for the project.

Mayor John Cooper assured that under no circumstances will property or sales tax increase to pay for the stadium and that primary funding source will come from the Titans and tourism.

Cooper wants the Titans to take on financial responsibility of maintaining the stadium, removing Metro Nashville’s general fund as the financial back stop.