Tennessee Titans, Nashville Officials Reach Deal for New $2.2B Domed Stadium

by Chris Haney
(Photo by Wesley Hitt/Getty Images)

According to reports on Monday, the Tennessee Titans have reached an agreement with Nashville Mayor John Cooper over a new NFL stadium. Supposedly, Cooper will share updates later this afternoon in a press conference and announce a new $2.2 billion domed stadium.

The agreed-upon plans will see the Titans’ current stadium – Nissan Stadium – torn down. The new project would instead be built nearby on the East Bank of the Cumberland River. The plans are for a 1.7-million-square-foot stadium, which will feature an enclosed dome roof.

The enclosed stadium would make it possible for Nashville to host a Super Bowl and other major events. The new Tennessee Titans stadium would cost more than $2 billion, but Nashville’s Metro Council still needs to approve the deal.

Talks of a new NFL stadium in Music City have been ongoing since earlier this year in February. The Titans organization and the city have been working together to come up with the best option for the team. Originally, the franchise planned on upgrading its existing stadium. However, the Tennessee Titans, along with city officials, paused the plans over rising cost concerns to upgrade the stadium.

23-year-old Nissan Stadium is in need of repairs after more than two decades of use in Nashville. The current lease has a provision that requires the stadium to be upgraded to stay on par with other modern sports venues. Following an 8-month process, the team and city seem to agree that a new stadium is the more cost-effective solution compared to upgrading the Titans’ current home.

More Details On the Tennessee Titans’ New Domed Stadium

Mayor Cooper has agreed with the Tennessee Titans’ assessment that building a new stadium is better for the city than upgrades and renovations to the existing Nissan Stadium. The team already estimated that upgrades would cost upwards of $1.8 billion. Plus, Music City is on the hook to cover maintenance costs of the current stadium through 2039.

Metro Council also commissioned a study to determine the cost of Metro’s current obligations. But the study is not complete as of today’s announcement. As mentioned, Nashville’s 40-member Metro Council must also approve any final plan before construction begins.

According to The Tennessean, financial details of the new stadium deal aren’t exactly clear. Previously, it was reported that Tennessee Titans ownership agreed to fund $800 million of the new project. Additionally, state lawmakers have allegedly agreed to use $500 million in bonds for the construction.

Specifically, revenue bonds from the stadium and its proposed 130-acre area would make up the Metro area’s half a billion contribution. Further, other funds will generate from a 1% local hotel rental tax in Davidson County.

Monday afternoon’s meeting should clear up some of the finer details of the proposed new stadium for the Tennessee Titans. The meeting will include Mayor Cooper and Titans President and CEO Burke Nihill addressing the media. Copper’s official Facebook account will livestream the press conference at 2 p.m. local time.