The Tennessee Titans will soon have a new home stadium, as Front Office Sports shared.
FOS tweeted, “Nashville Mayor John Cooper has struck a deal with the Tennessee Titans to build a new domed stadium, per
@tnnaterau. If approved by Metro Council, the new venue will be located east of Nissan Stadium, near I-24, and cost up to $2.2 billion.”
Nashville Mayor John Cooper has struck a deal with the Tennessee Titans to build a new domed stadium, per @tnnaterau.
If approved by Metro Council, the new venue will be located east of Nissan Stadium, near I-24, and cost up to $2.2 billion. pic.twitter.com/g2Cheslmpw
— Front Office Sports (@FOS) October 17, 2022
Both sides decided to proceed with building a new stadium because renovation prices for Nissan Stadium have skyrocketed.
Initially, the cost was estimated at $600 million.
However, the current price for the renovation project has doubled, making them step back to assess if that’s the best way to go.
Instead, Nashville’s city officials have agreed to the construction of a new stadium and a mixed-use redevelopment project.
The Titans will shell out an estimated $800 million for the new stadium.
Meanwhile, government funding will be sourced out from $500 million in bonds and sales taxes from the new stadium and the surrounding complex.
One More Hurdle For The New Stadium
However, this development does not mean that construction will be underway.
The report by Nate Rau shared in the FOS tweet explains how Cooper will have to bring this up to the Metro Council, which might be apprehensive about spending more money to replace a stadium that was built just a little over two decades ago.
Construction can start once the council approves the new stadium.
Having a domed stadium will increase Tennessee’s chances of hosting the Super Bowl.
Likewise, it will be a fitting home field for one of the AFC’s top contenders.
The Titans have made the playoffs in four of the last five seasons, three of which were under head coach Mike Vrabel.
Meanwhile, the estimated $2.2 billion is worth more than Allegiant Stadium’s costs ($2 billion).
However, it would be difficult to match SoFi Stadium’s $5 billion price tag.