A deal has been reached. We’re of course talking about a new $2.1 billion, enclosed stadium that could be ready as soon as the 2026 NFL season. The new agreement between the Tennessee Titans and Mayor John Cooper calls for a stadium to be built directly east of Nissan Stadium — an area to be completely transformed as part of the Imagine East Bank Vision Plan.
How we got here
The lease for Nissan Stadium was signed in 1996 and legally obligates Metro to provide a “first-class” stadium until 2039. When it became clear stadium renovations could cost nearly $2 billion, the city and team pivoted to studying the price tag of a new stadium. Under the agreement reached yesterday, Metro will not be responsible for maintaining the new stadium + will take over ownership when the lease expires.
A new look
The new domed stadium would span 1.7 million sqft and hold 60,000 fans for Titans games, concerts, and other major events — city leaders have name dropped wish list items like the Super Bowl and WrestleMania. It will also host up to four Tennessee State University home games each season with a dedicated locker room for the team.
Let’s talk funding
Under the new deal, stadium construction would be funded through a public-private partnership with contributions from the team, the state, and Metro Nashville. Here’s the breakdown:
- $840 million from the Titans and NFL
- $500 million from a one-time state contribution
- $760 million from revenue bonds issued by the Metro Sports Authority repaid through a 1% hotel tax and sales taxes collected at the stadium
One important note: The state’s contribution and the hotel tax are contingent on the building of an enclosed stadium. Additionally, the Titans have agreed to pay overruns on stadium construction.
What’s next? The new stadium plan will be reviewed and voted on by the Metro Sports Authority + Metro Council in the coming weeks. In the short term, the Titans have launched a website to host updates and solicit community feedback.
