Term Sheet Calls for Seven Separate ‘Definitive Agreements’ for the Stadium Projects

When Nashville Mayor John Cooper and the Tennessee Titans announced on October 17 that they had reached an agreement to build a new stadium, a 27-page term sheet was released that outlines the principal terms and conditions for the financing, development, construction, operation, use and occupancy of the multi-purpose, enclosed stadium.

The term sheet, however, is subject to the negotiation, preparation, execution and delivery of seven “Definitive Agreements” by the four parties – Metro Nashville government (Metro), the Nashville Sports Authority (the Authority), the Tennessee Titans (the Club) and a to-be-formed entity under common control of the Titans referred to as StadiumCo.

Read More

Term Sheet Sheds Light on Details of New $2.1B Tennessee Titans Stadium Deal

LP Field in Nashville, Tennessee

Members of the Metro Nashville City Council will be asked to approve a term sheet and legislation to enact a 1% hotel-motel tax starting Feb. 1 with its initial consideration of both to begin at the board’s Nov. 1 meeting.

The term sheet outlines plans for the projected $2.1 billion new stadium for the Titans, including the order of financing and how a fund that includes the hotel tax and sales tax at the stadium and outside the stadium can be used. The stadium is expected to be ready for the 2026 NFL preseason. The lease will be for the term of the bonds — about 30 years — with three five-year renewal options.

Read More