Nashville Mayor: Stadium Plans ‘Near a Final Proposal’

Nashville Mayor John Cooper acknowledged final week that “doing nothing is just not an choice” relating to the Tennessee Titans’ stadium scenario however pressured that there are issues he – and town – won’t do to accommodate the native NFL franchise.

Cooper penned an op-ed piece for The Tennessean through which he outlined the present standing of Metro Nashville’s negotiations with the Titans and briefly detailed the steps which have led thus far, particularly plans to construct a brand new, enclosed stadium at an estimated value of $1 billion (give or take).

In it, he pressured that Davidson County residents won’t bear any burden through property or gross sales tax will increase and that they metropolis’s monetary dedication to the challenge shall be a tough cap. Metro Nashville is predicted to contribute $500 million, the identical quantity the state already has dedicated by way of a hotel-motel tax hike that may generate the mandatory funds from tourism. The remainder, seemingly a minimal of $700 million, will come from the crew.

“Within the occasion of development overruns, I’ve requested that they be coated by the Titans,” Cooper wrote. “I can’t promote public land, elevate the gross sales tax, or spend your property tax {dollars} to fund the stadium.”

He additionally famous {that a} new stadium would end in a brand new lease settlement between the Titans and Nashville, one that may take away town from duty for upgrades and upkeep to the power through Metro’s Basic Fund, as been the case since Nissan Stadium, the crew’s present residence, opened in 1999. The present lease runs by way of 2038.

“Each Nashville and the whole state have benefited tremendously from having the Titans right here, and now, we have now the chance to broaden these advantages by getting town out of the stadium upkeep enterprise,” Cooper wrote. “… These are normal fund {dollars} that we’d like for different important priorities impacting neighborhoods and households – like our public faculties, first responders, homelessness, and housing.”

Franchise officers have mentioned they hope to open the brand new facility, which remains to be within the planning levels, in time for the beginning of the 2026 season.

In his piece, Cooper characterised the method, which began roughly 18 months in the past, as “close to a remaining proposal.” He additionally specified that any remaining settlement would – amongst different issues – make sure the Titans stay in Nashville “for the long-term” and that town will work towards significant and productive improvement within the space across the new stadium, which shall be constructed adjoining to the present one.

“Quite than pouring over a billion {dollars} into an getting older stadium, we started working with the Titans and the state on the thought of constructing a brand new enclosed stadium for Nashville,” Coopoer wrote. “… We’re engaged on plans for a brand new stadium as a result of doing nothing is just not an choice, and renovating the present stadium could be financially irresponsible.”