Titans’ stadium subsidy surpasses Bills deal
Well, that didn’t take long.
A month after Western New York became home to the largest public subsidy in the history of pro sports stadiums, officials in Nashville, Tennessee are preparing to spend even more taxpayer money to build a new riverfront home for the NFL’s Tennessee Titans.
Tennessee state lawmakers last week approved $500 million in bonds for a new enclosed football stadium that is expected to cost between $1.9 billion and $2.2 billion.
The total public cost for the project could hit $1.2 billion, with officials in the Metro Nashville government considering approval of another $700 million in funding.
At that rate, the public subsidy would be larger than the record-setting $1 billion in public funds officials in Erie County and New York State committed to the planned $1.4 billion stadium in Orchard Park for the Buffalo Bills.
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The Titans have been playing at their current home, Nissan Stadium in Nashville, since 1999. Team officials announced in January plans to renovate the facility at a cost of $600 million. They changed course and started talking about building a new stadium a month later, after it was reported that stadium renovations would actually cost closer to $1.2 billion.
The new Titans stadium would be built on parking lots across from Nissan Stadium. Plans presented to members of the Tennessee Legislature prior to last week’s vote on the bond package show the project would be part of a larger, $4 billion mixed-use development that would include 4 million to 6 million square feet of office, retail and residential space.