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Tennessee Titans get US$500m in state funding for new stadium

NFL franchise's proposed new venue to cost as much as US$2.2bn.

25 April 2022 Rory Jones

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  • Titans’ current lease at Nissan Stadium expires in 2028
  • Indoor venue would allow stadium to host additional sporting events

The National Football League’s (NFL) Tennessee Titans have secured US$500 million of public backing for a new stadium, after state legislature approved the bill granting funds.

Tennessee’s Republican governor, Bill Lee, was a key driver of the public bond issue and is expected to sign off on the deal.

“It was a huge step, and we are very grateful to the governor and to the legislature for their support and for their collaboration,” Titans president and chief executive Burke Nihill told the Associated Press (AP). “But there’s there’s still a lot of work to do.”

The Titans’ proposed new enclosed venue is projected to cost between US$1.9 billion and US$2.2 billion. The site is adjacent to the team’s current Nissan Stadium home and Interstate 24, spanning 1.7 million square feet.

The team’s owners, the Adams family, are set to cover US$700 million of the costs, but additional funding has yet to be sourced. Another unresolved issue is ownership and maintenance of the proposed new stadium.

Nissan Stadium is owned by the city of Nashville, with the local authorities required to pay for any maintenance or renovations. The team’s lease on the current stadium expires in 2028 and, according to The Tennessean, the new venue could be built by 2026.

The Tennessean reports that the Titans want to build a new venue that could host premium events such as the Super Bowl, College Football Playoff (CFP) games, 2026 Fifa World Cup soccer matches, WrestleMania and major college basketball events.

Nihill told The Tennessean: “We expect to be on all of those lists – we, being Nashville.

“We are in constant communication and collaboration with the mayor and his office. We continue to work with them on finding an elegant solution.”

The proposal for an indoor venue is based on calculations that it could host 15 more ticketed events annually than Nissan Stadium, boosting economic impact related to the venue by as much as US$225 million a year.

The new proposal comes after the team ditched plans for a US$600 million upgrade of Nissan Stadium due to spiralling additional costs.

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