NASHVILLE, Tenn. (WTVF) — It was a unanimous vote to move the new Titans stadium forward.
After Metro Council approved the deal in April, on Thursday, Metro's Sports Authority gave the green light to issue $760 million in bonds to help cover the construction.
On top of a $500 million promise from the state, the bonds would be paid back in part from taxes that nearby tourists and stadium users would pay.
Authority members pushed the titans to make sure minority-owned businesses would be a significant part of the design and building process.
"As we sit here, that's our intention, to maximize the number, quantity of participants on the project," said Titans Chief Legal Affairs officer Adolpho Birch.
Under the deal, TSU will get to hold all its home games at the stadium, rent-free. Because TSU would get all the money from sales and advertising for games held there, the school would get paid $150,000 each time it chooses not to use the new stadium for a game.
