Florida Gov. Ron DeSantis says that he is against using state money to fund the construction of sports stadiums.
DeSantis, however, announced Thursday that he and the state will grant $8 million from the Governors’ Job Growth Grant Fund toward road infrastructure around the new construction of Miami Freedom Park by the Inter Miami soccer club’s ownership.
Read the full story
The National Football League earned more than $13 billion and distributed more than $400 million in 2023 to each team from national revenue, Sportico reported.
The record distribution comes as teams across the league continue to push for public incentives for new stadiums and renovations.
Read the full story
The Jacksonville Jaguars became the second NFL team this week to get a large sum of public money for a stadium renovation when the City Council voted 14-1 to approve $775 million toward a $1.4 billion renovation of EverBank Stadium.
The Jaguars and NFL are expected to pay $625 million toward the project, using NFL G-4 loans along with funds from items such as naming rights through the new 30-year lease and non-relocation agreement.
Read the full story
At the Thursday evening meeting of the East Bank Stadium Committee, a council member praised an economist’s presentation about public investment in sports stadiums as more valuable than the paid report the council approved a company to do.
Professor of Economics, Finance and Quantitative Analysis at Kennesaw State University, J.C. Bradbury, delivered an information-dense presentation in rapid-fire fashion to the East Bank Stadium Committee (EBSC), of which Council Member Delishia Porterfield (District 29) was highly complimentary and appreciative, especially in comparison to the Vision Stadium Group (VSG) report that had a cost of at least $250,000.
Read the full story
A lease agreement between the Tennessee Titans and the limited liability Cumberland Stadium LP, calls for the Titans to be provided “a modern, first class, open air, stadium designed primarily for football, with a grass playing surface, to be located on the Stadium Site,” according to a copy of the lease acquired by The Center Square.
Cumberland Stadium is an operator that works for the Metro Nashville Sports Authority at the stadium.
Read the full story
Nashville will consider spending $200,000 on a “stadium study” to evaluate the Tennessee Titans’ claim that the city would owe $1.839 billion under the terms of the team’s current lease if Nissan Stadium in Nashville was renovated instead of having a new estimated $2.2 billion stadium built.
The line item called “study of Nissan Stadium obligations” appeared on a revised city budget from Metro Nashville Budget and Finance Chair Burkley Allen. The amendments will be discussed at Tuesday’s council meeting.
Read the full story
Over the next nine years, more than half of the stadiums in the National Football League will reach 30 years of age, or the age at which stadiums are generally replaced, according to economist J.C. Bradbury of Kennesaw State University in Georgia.
The model for replacement is trending more toward the taxpayer-supported efforts being pitched for the Tennessee Titans and Buffalo Bills than it is strictly team-owner funded stadiums such as the $5 billion SoFi Stadium in Los Angeles, home of the Chargers and Super Bowl-champion Rams.
Read the full story
Nashville Mayor John Cooper presented his case for public funding toward a new Tennessee Titans stadium in an op-ed posted Thursday by The Tennessean.
While those arguments were presented, Cooper did not include any numbers on how much the city plans to contribute to what is estimated to be at least a $2 billion stadium with a $700 million city investment and $700 million from team ownership, which could include a $200 million NFL loan.
Read the full story
Several sports economists who study the economic impact of sporting events believe a report showing a nearly $700 million economic impact for Nashville if it is selected as a host city for the 2026 World Cup was heavily inflated.
Nashville was one of the first nine potential sites visited by FIFA, which is international soccer’s governing body. A group visited the city Sept. 9.
Read the full story