Report: Titans & Mayor Of Nashville Reach New Stadium Deal

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Nissan Stadium. Photo: Courtesy of the Nashville Convention & Visitors Corp.

Nashville Mayor John Cooper and the Tennessee Titans have reached an agreement for a new, domed stadium costing up to $2.2 billion, according to a report by Axios’ Nat Rau.

This deal will be monumental, marking the the largest building project in Metro’s history. Questions have been floating around for the past six months on whether or not Cooper would commit to a stadium plan as he’s been adamant about not having taxpayers pay for any existing stadium updates or a new stadium.

Just last month, members of Metro Council laid out a plan for the the Nashville Sports Authority of possible ways to pay for this new stadium without going after Davidson County taxpayer dollars. The members of Metro Council outlined a plan that included a 1 percent tax on all hotel room rentals in Davidson County and sales taxes collected within the new facility and sales taxes collected in the surrounding 130-acre campus.

This new stadium will be part of the greater East Bank redevelopment plan, which was officially announced in September.

As previously announced, the Titans will are expected to pay for about $800 million in private revenue sources to the deal. Governor Bill Lee also pledged to pay $500 million in bonds from the state, for a new domed stadium.

Both Cooper and Titans CEO Burke Nihill will be holding a press conference today (Oct. 17) at 2 p.m. CT, making the announcement official with more details on the project. The press conference will be live streamed on Facebook.

Steven Boero
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