Titans, Nashville reach deal to buy $2.2 billion dome stadium

NASHVILLE, TN — The Tennessee Titans have made a deal with Nashville Mayor John Cooper to build a new stadium, according to a report by Axios.

The 1.7 million square foot stadium will contain a dome, making it possible to host the Super Bowl and other major events throughout the year. It is located east of Nissan Stadium along the East Bank.

The project is said to cost $2.2 billion and must be approved by the Metro Board.

The Titans property has reportedly agreed to pay $800 million to help fund the project. The stadium will also be financed with an investment of $500 million by the state.

Other funding includes a 1% tax on local hotel room rentals in Davidson County along with sales taxes collected inside the new stadium.

The deal is the result of Nissan Stadium needing a renovation after 23 years of wear and tear. A clause in the current lease requires that the stadium’s condition remain on par with other sports venues built around the same time.

This project would have cost approximately $1.8 billion over the next 17 years. Cooper has called it “financially irresponsible” to renovate Nissan Stadium rather than build a new facility, which his supporters say will attract more tourists throughout the year. But the Nashville Metro Board is said to have been reluctant to approve more significant spending on tourism projects. The new stadium will represent the largest construction project in the history of the metro.