The Tennessee Titans recently announced an outreach event for individuals and businesses interested in becoming part of the team’s new stadium project is set to take place on Thursday, October 19.
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The estimated value of the Tennessee Titans franchise rose 33% to $4.37 billion in the new Sportico National Football League valuations list.
The increase came despite the Titans missing the playoffs but came in a year when Tennessee and Nashville taxpayers signed up to fund $1.2 billion of a new Titans stadium set to open in 2027. The deal includes an estimated $3.1 billion tax fund to pay off sports authority bonds on the project along with infrastructure around the stadium and future capital expenses at the stadium during the new lease.
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Lobbyists for a new $2.1 billion Titans stadium sent an email to Metro Nashville council members on the morning of the second reading of a bill about the project detailing the Titans’ position on 28 amendments to the deal that were heard at that night’s meeting.
The email and documents were acquired and posted by Nashville residents opposed to the deal Monday.
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The deal to build a new $2.1 billion Tennessee Titans stadium took another step toward happening early Wednesday morning when the deal was approved on second reading by a 25-11 vote during a Metro Nashville Council meeting that lasted into the morning.
A third and final reading is expected after a four-hour public hearing on the bill and the Nashville Needs Impact Fund starting at 6:30 p.m. on Tuesday.
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An amendment to the bill to build a new $2.2 billion Tennessee Titans stadium has been the subject of pushback this week heading into the scheduled second vote on the project from the Metro Nashville Council on Tuesday.
The amendment would add an increasing tax on non-NFL ticketed events at the new stadium and send what mayor’s office staff estimated would be $470 million to Nashville’s general fund over the 30-year deal.
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A second vote on the final documents for a potential $2.2 billion new Tennessee Titans stadium was delayed one meeting after discussion of some amendments early Wednesday morning.
That means the bill could get a second vote April 18 and then receive its final approval at a late April meeting. Metro Nashville has a rule it cannot approve bonds while the budget is on the table, which is expected to happen before the body’s first May meeting.
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Construction costs have been divided up clearly to fund up to $2.2 billion of construction expenses on a new Tennessee Titans stadium in Nashville, expected to open in 2027.
Tennessee has committed $500 million in funds it will bond, Nashville’s Metropolitan Sports Authority will take out $760 million in revenue bonds backed by Metro Nashville’s general fund set to be paid off with state and local tax captures and the Titans have committed at least $840 million including an estimated $200 million from a National Football League G-4 loan and $270 million from new personal seat license sales at the stadium.
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The chair of Nashville’s East Bank Stadium committee detailed in a post how the Mayor’s Office, lobbyists and communications staff have pushed false narratives about a $2.1 billion new Tennessee Titans stadium over the past year and why he will be voting against the project when it’s expected to reach the Metro Nashville council in March.
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Metro Nashville Council on Tuesday increased the city’s hotel occupancy tax. The increased funds from the tax hike are required by state law to be used solely for the construction and future capital improvements and the associated debt service of a new enclosed stadium with seating for at least 50,000.
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Thursday morning on The Tennessee Star Report, host Leahy welcomed all-star panelist Clint Brewer in the studio to handicap the new deal for a new Titans’ Stadium involving Mayor John Cooper’s office, and Nashville Metro City Council.
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Metro Nashville denied an open records request for its internal communications related to Nashville’s East Bank, citing a “deliberative process privilege” exemption to the state’s open records law.
Justin Hayes, a Nashville resident who requested those records, only received notice of the exemption after following up on the records request several times. Initially, Hayes was just provided email threads from communications staff commenting on story links.
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In a new poll, 61% of likely voters in Tennessee oppose the state giving $500 million toward a new Tennessee Titans stadium.
The poll, conducted by Targoz Market Research for the nonprofit policy group the Beacon Center of Tennessee, showed that 69% of those polled in East Tennessee disapproved of the move while 57% in Middle Tennessee disapproved and 55% in West Tennessee disapproved.
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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.
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The Finance Committee of the Tennessee State Senate voted on Wednesday to remove public funding for the proposed $2 billion domed stadium for the NFL’s Tennessee Titans from the 2022-2023 budget for the state of Tennessee.
State Senate Majority Leader Jack Johnson (R-Franklin) proposed two amendments to the budget that (1) removed authorization for the state of Tennessee to issue a $500 million bond to be used for the construction of the proposed stadium and (2) removed $55 million in taxpayer funding to service the interest payments annually of that bond debt.
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Thursday morning on The Tennessee Star Report, host Leahy welcomed all-star panelist and The Epoch Times’ Editor-at-Large Roger Simon in the studio to weigh in on the billion-dollar Titan Stadium renovation to enclose the stadium and appropriate a percentage of profits to an already failing public school system.
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The anticipated sales tax revenues associated with proposed upgrades to Titans Stadium could be a good idea, says JC Bowman, executive director & CEO of Professional Educators of Tennessee, but whether such a plan is “sustainable” in the long term remains a question.
In an interview with The Tennessee Star, Bowman assessed recent statements by Tennessee House Speaker Cameron Sexton about the state investing in upgrades to Titans Stadium with the expectation that sales tax generated from major events could be invested in K-12 education, particularly in the state’s rural areas.
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Tuesday morning on The Tennessee Star Report, host Leahy welcomed Field of Schemes co-author Neil DeMause to the newsmaker line to outline the problems with public subsidized sports stadiums.
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Monday morning on The Tennessee Star Report, host Leahy welcomed Tennessee House Speaker Cameron Sexton to the newsmaker line to discuss the Titan Stadium upgrades, residency bill, and school funding status.
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Monday morning on The Tennessee Star Report, host Leahy welcomed Caller Carl to the newsmaker line to give his opinion on the Titan Stadium upgrades and cost to the city.
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On Nashville’s Morning News, host Mandis spoke with Tennessee House Speaker Cameron Sexton regarding the proposed $500 million bond for a retractable roof on Titans Stadium and its benefits for Nashville and the state.
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Friday morning on The Tennessee Star Report, host Leahy welcomed Tennessee State Representative (R-TN-20) Bob Ramsey to the newsmaker line to discuss HB946 and comment on the proposed budget for Titans Stadium.
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