Memphis will be receiving $350 million for its sports facilities in the $56.2 billion Tennessee budget passed by the Senate on Thursday.
The funds are part of $684 million in sports facility improvements planned for the city that include renovations to the FedExForum, home of the Memphis Grizzlies, along with renovations to Liberty Stadium, AutoZone Park and a new soccer stadium.
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A Tennessee Senate committee will be looking at bills to extend tax deals for the Memphis Grizzlies’ FedExForum through 2059 on Tuesday.
The tax proposal comes up as Gov. Bill Lee has proposed sending $350 million to Memphis for renovations at the Grizzlies’ FedExForum and Memphis’ Liberty Stadium. That is part of $684 million in planned renovations to Memphis sports facilities.
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Tennessee collected $3.3 million in taxes from the $340 million in bets placed at Tennessee’s sportsbooks in December, according to Tennessee data acquired by PlayTenn.
December was the third-highest month for amount of bets placed since betting began in November 2020. In October, $375.3 million was wagered and $365.7 million was wagered in November.
More than $2.7 billion in bets were placed in Tennessee in 2021 with $39.3 million in taxes paid on $239.9 million in gross revenue.
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Gov. Bill Lee announced a new “TN Strong Mask Movement” Thursday with the goal of making face masks more “fun.”
According to a press release from the governor’s office, the Economic Recovery Group developed the new program along with more than 30 “flagship brands” across the state, including Amazon, Bridgestone, Bristol Motor Speedway, Graceland, Jack Daniel’s, several professional sports teams and universities, and many others.
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In a 1956 song “Money Honey,” Elvis Presley didn’t have enough cash to pay the rent, so he called his girlfriend for some “Money Honey.” Presley, during his singing career, was never known to call upon the government for money — although the people who run the late singer’s Graceland estate are calling upon the government, asking for some corporate welfare. Graceland officials want that corporate welfare so bad they’ve sued the city of Memphis, according to The Memphis Commercial Appeal. Graceland officials did not return The Tennessee Star’s requests for comment. According to The Appeal, Elvis Presley Enterprises filed a lawsuit against the city of Memphis over a delay in approval in expansion plans at Graceland. Specifically, Graceland officials want some sort of city assistance with a 6,200-seat arena. Memphis officials, however, believe that violates a non-compete agreement with FedEx Forum. Memphis Mayor Jim Strickland told the paper this is not the first time Graceland has sued the city. “Bottom line: The private owners of Graceland want public taxpayer dollars to put into their privately-owned facilities,” Strickland told the paper. “And we have a problem with that.” The lawsuit, filed in U.S. District Court, “alleges a delay in the Land Use…
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