NASHVILLE, Tenn. (WTVF) — A new Tennessee Titans stadium proposal passed another hurdle Thursday after the Metro Nashville Sports Authority approved the measure.
At the meeting, sports authority members approved a $2.1 billion term sheet.
This now lands on the desk of the Nashville Metro Council for a resolution vote.
“We are thankful for the Metro Nashville Sports Authority's leadership and support in moving the stadium proposal forward today. The Authority has worked for many years to identify and address the challenges faced at the existing stadium, and continues to be an important partner as we look ahead to the future. We look forward to further conversation as the process continues," Titans officials said after the vote.
The new Titans stadium proposal has been on the minds of Nashvillians for nearly a year, after the organization announced needed repairs to the current Nissan Stadium on the East Bank.
A resolution vote by Metro Council would only require one meeting, and the council only has a handful left before the year ends. Of the money needed for the stadium, a one-time $500 million bond from the state legislature will contribute. Additionally, the council is trying to solve a 1% motel/hotel tax hike for a revenue stream. Personal seat licensures will also add money to the pot along with the Titans organization.
The next Metro Council meeting is next week Dec. 6.
