As the Metro Nashville council prepares for its second vote Tuesday night on the deal to build a new $2.2 billion Tennessee Titans stadium, the largest remaining debate involves an amendment added to the deal at the April 4 council meeting.
On Tuesday night, the council will see what is likely its final opportunity to amend the deal.
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There are benefits to sharing a city with an NFL franchise. There are even more benefits to sharing a city with an NFL franchise in pursuit of a new stadium. But are the benefits real, or simply a PR deal geared towards facilitating a new stadium for the NFL franchise? One that also benefits local officials.
This week Nashville’s Mayor Cooper announced via a press release, “Every Metro Nashville Public High School (MNPS) athletic program will receive a new sports field, an initiative made possible through an innovative partnership with the Tennessee Titans and The Foundation for Athletics in Nashville Schools, Inc. (The Fans Inc), a non-profit organization dedicated to endow athletic programming at MNPS schools.”
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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.
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In an open letter written and delivered to the entire Nashville Metro Council on July 5, former AllianceBernstein COO Jim Gingrich expressed his concern about negotiations over a new Titans stadium and called for more transparency for the process.
“The time has come for the Council to assert its leadership, bring transparency to the negotiation, and prioritize taxpayers and Titans fans,” Gingrich said.
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Tennessee Titans Chief Executive Officer Burke Nihill estimated that Nashville 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 stadium built.
The estimate is based upon maintenance and a lease stipulation saying the city must pay for capital projects to keep the stadium in “first-class condition to keep pace with comparable facilities.”
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The Tennessee Legislature approved $500 million of bonds for a new Tennessee Titans stadium as part of a record $52.8 billion budget on Thursday.
The Titans stadium funds were not initially included in budget appropriations passed by the Senate in the early afternoon after they were removed in committee on Wednesday, but later in the day the Senate concurred on the budget that the House had passed, including the Titans stadium funds.
The $500 million in bonds for the stadium will require $55 million in annual payments.
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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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The positive test results keep coming for the Tennessee Titans in the NFL’s first outbreak of COVID-19.
If the positive results don’t stop, the Titans’ next game, against Buffalo (3-0) on Oct. 11, could be at risk, forcing the NFL into even more rearranging of the schedule.
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The Tennessee Titans opened their NFL season with an away game in Miami Sunday, where three members of the Dolphins protested the playing of the National Anthem. Two were ‘kneelers’ and one raised a fist. NFL ratings were down as the league kicked off another season three days earlier on…
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Tennessee Titans receiver Rishard Matthews said he would “be done with football” if the NFL makes it a requirement for players to stand during the national anthem. It looks like he’s taken it to another level as he went back to the locker room during the national anthem on Monday…
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Tennessee Titans running back DeMarco Murray is sporting a cast on his right hand, but coach Mike Mularkey didn’t appear to be too concerned on Thursday. Mularkey had a similar attitude in regard to the status of Tajae Sharpe as the second-year wide receiver recovers from last week’s foot surgery.…
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