The cost of a new Tennessee Titans stadium could exceed $2 billion, with the price tag for a new development at the current Nissan Stadium site could reach $4 billion, as the team and city officials map out a plan for new covered stadium.
The financial plan for the new Tennessee Titans stadium, as projected by the state, assumes a few things: that the stadium will generate 28 non-football events annually (the Titans are more conservative in projecting 15 events a year), and that new revenues from the development will help address debt. Right now the funding plan is anchored by a $500 million bond sale, to be paid off by new sales-tax revenue generated by the stadium and the associated development, while the city is reportedly looking at a 1 percent hike in the hotel tax, from 6 percent to 7 percent, to cover Nashville’s expected $700 million contribution to the project. And while it’s not in the financial projections, there is also the possibility of tax windfalls should the stadium host a Final Four or Super Bowl.
Add to that $700 million coming from the Titans, and you have $1.9 billion lined up.
The current plan calls for a new covered stadium next to Nissan Stadium encompassing some 1.7 million square feet, with an opening set for 2026. Nissan Stadium would be torn down, with that site devoted to public-private development.
Photo courtesy Tennessee Titans.
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