The NFL's Tennessee Titans will be getting a new state-of-the-art stadium backed by record-setting public subsidies.
Safety Amani Hooker #37 of the Tennessee Titans celebrates with teammates after an interception during the fourth quarter against the New York Giants at Nissan Stadium on September 11, 2022 in Nashville, Tennessee. A credit rating agency has given a “high” credit rating to the bonds that will finance the bulk of the new stadium for the NFL’s Tennessee Titans.
The Titans new stadium would eclipse the Allegiant Stadium in Las Vegas to make it the NFL's second-most-expensive venue behind the $5 billion SoFi Stadium in Southern California.Sports Authority of The Metropolitan Government of Nashville and Davidson County The preliminary par amounts are $347.9 million on the series 2023A bonds and $75.5 million on the 2023B bonds. S&P Global says “the outlook for the bonds is stable.”
According the to S&P Global news release,"The 'A' long-term rating on the proposed 2023A obligations and the 'A-' long-term rating on the proposed 2023B obligations reflect our view of the obligations' strong-to-adequate economic fundamentals and moderate-to-high revenue volatility," said S&P Global Ratings credit analyst Randy Layman.
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