Another hurdle for the Tennessee Titans and the city of Nashville is in the rearview mirror as the NFL owners officially approved league financing for their new $2.1 billion stadium that’s scheduled to open in 2026 or 2027.
According to Sandy Mazza of The Tennessean, NFL owners approved a combination of loans and grants with a value of $200 million for the upcoming project.
These funds were approved on Wednesday as part of the league’s G4 Stadium program.
The $200 million investment represents only 10 percent of the estimated cost for the dazzling new enclosed stadium that’s set to be built only a few blocks away from where Nissan Stadium currently sits.
This investment is added to a larger financing deal negotiated by the Titans and Mayor John Cooper’s office back in October, which is now being considered by the city council.
In total, the Titans and NFL would pay approximately $840 million toward the venue, which includes the G4 revenue.
The state Legislature also agreed to contribute $500 million, with Metro Nashville leaders committing to issuing revenue bonds for the remaining $760 million.
These costs will be repaid by stadium and surrounding campus sales taxes, as well as a one-percent hotel tax on Davidson County. The Metro Sports Authority approved the project plan’s main points on December 1st.
You can read the quote from Titans representative Kate Guerra in its entirety shown below.
“We’re grateful to be one of several teams approved this week for NFL stadium investment programs,” Guerra said. “It’s clear that many stadiums around the NFL, including stadiums listed in our current lease as Comparable Facilities, are evolving at a rapid pace. We remain committed to removing Metro’s General Fund from the burden of keeping up with those facilities through the proposed new stadium terms in front of Metro Council next week.”