NASHVILLE, Tenn. (WKRN) — On Tuesday night, Metro Council will vote on approving the terms and conditions of the transactions required to finance, construct and operate a new stadium for the Tennessee Titans.
Last week, the Metro Nashville Sports Authority approved the term sheet which entails a 27-page document describing all the features that will be included in the proposed stadium.
The 27-page document states the stadium will be enclosed, multi-purpose and seated on the 105-acre East Bank. It’s expected to have 60,000 seats, plus suites, boxes, clubs, onsite parking, retail, offices and banquet space.
According to the terms, the goal is to have the Stadium Project completed “prior to the start of the 2026 NFL Preseason, if practicable, otherwise 2027.”
Officials say Nissan Stadium will remain in full operation until the opening of the new stadium.
The terms also outline the budget and funding for the $2.1 billion dollar stadium. According to the document, the Sports Authority will contribute $760 million toward stadium costs and the State of Tennessee will separately contribute $500 million toward stadium costs.
Governor Bill Lee has given his stamp of approval, stating that the proposed stadium would be a ‘great investment.’
“Jobs are created and lives are changed when tourists come here, and tourists come to a city that has a significant venue like a covered-domed stadium,” said Gov. Bill Lee, “So, it’s a wise investment for the future of our state and for economy development.”
According to the Metro Nashville Sports Authority, the terms will relieve taxpayers burden by at least $1.75 billion.
The meeting is open to the public and will begin at 6:30 p.m. at the Historic Metro Courthouse.