by Jon Styf
The Tennessee Titans have agreed to a 20-year naming rights deal with Nissan for the team’s new stadium, set to open in 2027, but did not disclose the amount Nissan is paying for those rights.
That will make the new stadium Nissan Stadium, just like the current stadium has been since 2015. The deal agreed to by Metro Nashville’s council allows the Titans to retain stadium sponsorship money and not disclose the price.
The new stadium will cost $2.1 billion to build, with $1.27 billion coming from taxpayers. But the stadium deal also involves a $3.1 billion estimated tax capture during the length of the new 30-year lease.
The fund will pay for an estimated $1.47 billion in debt service for $760 million in bonds on the project from Nashville’s Metropolitan Sports Authority.
The Titans also said that a waitlist for a Personal Seat License at the stadium is available at NewNissanStadium.com. Seat licenses are a funding mechanism that teams charge for an individual’s right to purchase season tickets in that spot year after year.
The Titans are expected to sell at least $270 million in PSLs at the stadium, including giving current Nissan Stadium PSL holders a full credit for their current PSL toward the price of a PSL at the new stadium.
The Titans said that Nissan will also have sponsored areas in the new stadium.
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Jon Styf is an award-winning editor and reporter of The Center Square who has worked in Illinois, Texas, Wisconsin, Florida and Michigan in local newsrooms over the past 20 years, working for Shaw Media, Hearst and several other companies.
What a great deal. Taxpayers get hosed again. Thanks Rinos
Nashville gave away the farm with the new stadium deal. And the state aided and abetted in this crime against taxpayers.