More than $1 billion in public funding pushed the Tennessee Titans’ bid for a new, fully enclosed stadium across the finish line on Wednesday.
Metro Nashville Council gave the final green light with a vote of 26-12 on Wednesday. The Metro Nashville Sports Authority, the owner and landlord of both the current and new stadium, unanimously granted stadium approval on April 4.
“For more than 25 years, Nashville, Tennessee, has been the Titans’ home, and with the approval of the new stadium agreement, we are grateful to know the Titans will be a part of this great city and state for decades to come,” said Titans controlling owner Amy Adams Strunk in a statement on Wednesday. “I remember the early days of our time here feeling all the promise and opportunity ahead, and I feel that same enthusiasm and excitement again today. We are thankful for the support of Mayor Cooper, Metro Council, the Sports Authority, the State of Tennessee, and most importantly, the people of Nashville and Tennessee as we all embark on this new chapter together.”
With the city agreement comes a new, 30-year lease and non-relocation agreement between the Titans and the MNSA.
The Titans will contribute up to $48 million over the life of the lease to the Nashville Needs Impact Fund, a fund providing public education, public transit, affordable housing, and several other areas.
“Tonight is a huge win for Nashville taxpayers,” Nashville Mayor John Cooper said. “We’ve eliminated a billion-dollar liability created by an aging stadium lease and created a platform for the city to thrive for decades. This was always about more than football. This vote unlocks the East Bank Vision for Nashville’s next generation. It enables a true smart growth plan for the decades ahead. It will expand our transit network, create affordable housing, build parks and civic space, activate the waterfront, and drive resilience and sustainability.”
Groundbreaking for the stadium project on the East Bank of Nashville is scheduled for early 2024 with the first events to be held in 2027.
