NASHVILLE (WSMV) - Mayor David Briley, Bridgestone Arena management company Powers Management, and the Metro Nashville Sports Authority have announced a new 30-year lease deal that will keep the Nashville Predators at Bridgestone Arena through 2049.
According to a news release, the new lease is pending approval by the Metro Nashville Sports Authority and will relieve taxpayers of financial responsibility for Bridgestone Arena. Currently, the Metro Davidson County General Fund supports Bridgestone Arena and the Predators. Under the new agreement, existing revenue streams will be utilized to maintain, improve, and expand the facility.
“We are most appreciative of Mayor Briley, the Sports Authority and Metro’s support and partnership,” Predators CEO and President Sean Henry said. “The rise of our franchise and arena growth since the last agreement in 2012 are testaments to a model of public-private partnership and a community-wide embrace and passion for the Predators. Bridgestone Arena is the envy of our industry and could not be what it is today without so many partners coming together to maximize its value, economic impact and benefit to the community. This is exactly where we want to be – in the center of downtown and playing an integral role in our community’s growth and development for the next 30 years. This partnership will allow us to book the best of the best events that appeal to all corners of our community, allow the Nashville Predators to thrive in SMASHVILLE and allow Powers Management to maintain the building in a world-class way while freeing Metro’s operating and capital budgets of any and all financial obligations.”
Nashville Predators said in a release that 72 percent of arena ticket buyers come from outside of Davidson County, and the majority of the funding is being driven by those outside of Metro Nashville.
The new agreements will consist of a lease between the Metro Sports Authority and Powers Management, as well as a separate tenancy agreement between the Sports Authority and the Predators. The agreements will run from July 1, 2019 through June 30, 2049, subject to approval.
Any future improvements to the Arena will also continue to be subject to approval by the Sports Authority.
“This is a great deal for the city and shows that we’re as committed to the Predators as they are to us,” said Mayor Briley. “The agreement relieves the city and the taxpayers of financial burden, while allowing for any renovations to Bridgestone Arena so that it can remain one of the country’s premier sports and entertainment venues. The Predators are an integral part of our community, so I’m proud to say that they will be calling Smashville home for years to come.”