The Tennessee Titans have the final financing piece for the NFL's next pricey stadium with the largest public investment yet that they hope to open for the 2027 season.
The Metro Nashville City Council finally approved by a 26-12 vote early Wednesday morning on the final reading to allow its sports authority to issue $760 million in bonds. That combines with $500 million in state bonds for $1.2 billion in public financing committed to the Titans' enclosed stadium.That gives Tennessee the largest public price tag for a stadium, topping the $850 million commitment from New York for Buffalo's new $1.5 billion stadium.
The council meeting began Tuesday night with two hours apiece for taxpayers to argue for and against the proposal to use Nashville's bonding authority to pay for a second stadium for the privately-owned NFL team. The council took about six hours before a final vote.This stadium will allow Nashville and the Titans to bid for a Super Bowl, Final Fours, College Football Playoff games and more.
In the deal, the Titans agreed to waive $32 million owed by Nashville for money spent maintaining Nissan Stadium the past four years. The Titans also will pay off the remaining $30 million in bonds owed for the current stadium. The Titans have been clearing money for their portion of the stadium with team officials hoping to break ground by mid 2024 to open for the 2027 season. Strunk already paid for the expansion of the team's headquarters that essentially doubled the size of the building that opened in August 1999.
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