Tennessee passes budget including $500 million in funding for new Titans stadium
I'm asking because I just saw this on the Caliente (Mexican sports channels) sports bar.
There hasn't been anything else said about it for a couple months.
Has to go before metro council for approval where it’ll face some opposition.
ESPN is reporting that the deal has been passed.
Report: Titans have deal for new domed stadium
Report: Titans have deal for new domed stadium
Here's the letter emails to PSL holders:
Dear Titans Family,
I am writing to you today to share some exciting news. Earlier today, we reached agreement with Nashville Mayor John Cooper on a long-term lease for a new stadium to be built in the parking lots east of the existing stadium. We could not have made it to this point without your unparalleled loyalty and support and are incredibly grateful for each of you.
The new lease not only eliminates a significant financial obligation on Nashville taxpayers under the existing stadium’s lease, but ushers in the next era of our organization with an incredible facility that will give Titans fans the world-class fan experience you deserve.
To be clear, there are additional steps and approvals required before a new stadium becomes a reality. The stadium plan must be reviewed and approved by Metro Nashville’s Sports Authority and City Council, and that process will begin in the coming weeks. In the meantime, we will continue to solicit feedback from the community and our fans about the project.
Nashville’s new stadium will be a game changer for our community. Using fan and community input, we are designing a stadium inspired by the character and spirit of Tennessee. In addition to Titans games, concerts and other events, the new stadium will be able to host the world’s greatest events, such as Super Bowls, College Football Playoffs, Finals Fours, and WrestleManias. The stadium will enhance the national and international reputation of our great city and state and generate billions in economic activity for local businesses and state and local government budgets. More importantly, we are committed to designing a facility with dedicated spaces to serve our neighbors throughout Nashville and Tennessee with regular community programming such as nonprofit fundraisers, high school athletics, and job fairs.
Stadium construction will be funded through a public-private partnership with contributions from the Titans, NFL, State of Tennessee, and Metro Nashville. Metro’s contribution will be funded by a 1% hotel tax paid primarily by tourists and sales and use taxes collected at the stadium and surrounding land. Like nearly all stadium projects of this scale over the past several decades, PSLs will also be a part of the new stadium project.
We appreciate that you will have questions about PSLs in a new stadium, and we are committed to offering you transparent and complete answers as soon as we have them. While we still have many details to work through, I wanted to offer you an update on what we know so far.
If the project is approved and we transition to a new stadium, it is critically important to our organization that you and all existing PSL holders are treated fairly and with the respect and appreciation you deserve. Our owner, Amy Adams Strunk, has insisted from the beginning of this process that the Titans organization find a way to protect our most loyal fans’ PSL investment as part of any new stadium plan. To ensure that we do, we will offer every current PSL holder a full credit towards a new PSL equal to the value of your PSL when you acquired it.
Thank you for your patience and trust as we continue to work through the details of our plan and the questions we still need to answer for you. In the meantime, we’ve created a webpage at TennesseeTitans.com/NewStadium with additional information. The website also allows for you to send feedback on what you’d like to see in a new stadium. As this process continues, we will share updates regularly, and look forward to seeing you at upcoming games and events.
This agreement will cement the Titans’ future in Tennessee for another generation, and we can’t wait to create new memories with you.
Sincerely,
Burke Nihill
Titans President and CEO
Dear Titans Family,
I am writing to you today to share some exciting news. Earlier today, we reached agreement with Nashville Mayor John Cooper on a long-term lease for a new stadium to be built in the parking lots east of the existing stadium. We could not have made it to this point without your unparalleled loyalty and support and are incredibly grateful for each of you.
The new lease not only eliminates a significant financial obligation on Nashville taxpayers under the existing stadium’s lease, but ushers in the next era of our organization with an incredible facility that will give Titans fans the world-class fan experience you deserve.
To be clear, there are additional steps and approvals required before a new stadium becomes a reality. The stadium plan must be reviewed and approved by Metro Nashville’s Sports Authority and City Council, and that process will begin in the coming weeks. In the meantime, we will continue to solicit feedback from the community and our fans about the project.
Nashville’s new stadium will be a game changer for our community. Using fan and community input, we are designing a stadium inspired by the character and spirit of Tennessee. In addition to Titans games, concerts and other events, the new stadium will be able to host the world’s greatest events, such as Super Bowls, College Football Playoffs, Finals Fours, and WrestleManias. The stadium will enhance the national and international reputation of our great city and state and generate billions in economic activity for local businesses and state and local government budgets. More importantly, we are committed to designing a facility with dedicated spaces to serve our neighbors throughout Nashville and Tennessee with regular community programming such as nonprofit fundraisers, high school athletics, and job fairs.
Stadium construction will be funded through a public-private partnership with contributions from the Titans, NFL, State of Tennessee, and Metro Nashville. Metro’s contribution will be funded by a 1% hotel tax paid primarily by tourists and sales and use taxes collected at the stadium and surrounding land. Like nearly all stadium projects of this scale over the past several decades, PSLs will also be a part of the new stadium project.
We appreciate that you will have questions about PSLs in a new stadium, and we are committed to offering you transparent and complete answers as soon as we have them. While we still have many details to work through, I wanted to offer you an update on what we know so far.
If the project is approved and we transition to a new stadium, it is critically important to our organization that you and all existing PSL holders are treated fairly and with the respect and appreciation you deserve. Our owner, Amy Adams Strunk, has insisted from the beginning of this process that the Titans organization find a way to protect our most loyal fans’ PSL investment as part of any new stadium plan. To ensure that we do, we will offer every current PSL holder a full credit towards a new PSL equal to the value of your PSL when you acquired it.
Thank you for your patience and trust as we continue to work through the details of our plan and the questions we still need to answer for you. In the meantime, we’ve created a webpage at TennesseeTitans.com/NewStadium with additional information. The website also allows for you to send feedback on what you’d like to see in a new stadium. As this process continues, we will share updates regularly, and look forward to seeing you at upcoming games and events.
This agreement will cement the Titans’ future in Tennessee for another generation, and we can’t wait to create new memories with you.
Sincerely,
Burke Nihill
Titans President and CEO
Yeah this line has me bugged.
“To ensure that we do, we will offer every current PSL holder a full credit towards a new PSL equal to the value of your PSL when you acquired it.”
The price paid in 1999 is nothing compared to what the new PSL will cost. I wonder if it will price people right out of their seats?
“To ensure that we do, we will offer every current PSL holder a full credit towards a new PSL equal to the value of your PSL when you acquired it.”
The price paid in 1999 is nothing compared to what the new PSL will cost. I wonder if it will price people right out of their seats?
While I am excited as heck about an enclosed stadium…it sounds like parking is going to be a real issue as they will convert the current stadium site to a new east river development site so no indication of expanded parking in that direction. And restriction the stadium to 60k seats is interesting.
I am guessing it would be 2027 or later.
Cowboys/at&t stadium completed 2009, hosted Superbowl 2011
Lucas oil stadium opening 2008, hosted Superbowl 2012
MetLife stadium opened 2010, hosted Superbowl 2014
Levi's stadium opened 2014 hosted, Superbowl 2016
US bank stadium opened 2016, hosted Superbowl 2018
Mercedes Benz stadium opened 2017, hosted Superbowl 2019
So ya seems like two years is typically the sweet spot
The stadium is being designed by Manica Architecture who designed Allegiant Stadium for the Raiders and Chase Center for the Warriors. Two spectacular venues. The Titans said this yesterday about our new stadiums interior:
In terms of the interior design and experience, Allegiant Stadium (in Las Vegas), is probably as close as it gets. It's a translucent roof, like Allegiant. The translucent roof lets daylight through, and it creates a really special experience within an enclosed facility. We are also picturing using quite a bit of glass on the sides to focus on letting as much daylight as possible into the building. In terms of the seating mix, Allegiant is probably the most comparable. It's an efficient design like theirs, and it focuses on the diversity of the experience like Allegiant does.
Many of our fans just want to get to the game, park in their seats, and watch the game. But what you see around the NFL, the best stadiums allow fans the choice about how they want to attend the game and interact with the stadium. So, that may be a great seat that has a good view of the game and they're parked there the entire time. And, that may be a social experience. There's families who want the ability to roam around a little bit with their little ones. We have millennials who would like to have something of a game-long tailgate. So, we are trying to build a building and design a building that accommodates a wide range of experiences.
And this about the exterior:
In terms of the design concepts, we've been paying attention to, first of all we have rallied around this phrase: 'Win on Character'. And, what we mean by that is we see Nashville and Tennessee as a character-rich community. I think about the Ryman. It is a treasure of a venue, the character of that venue. When you build a new building, you certainly want it to have modern comfort and a modern experience, but we also want to embrace that sense of character. We want this building to ultimately reflect the character, the rich fabric of this community, and we feel we've landed on something that's done just that. The second thing is, we are focused on this stadium being so much more than a football stadium. We want this city to be the very best concert venue in the country. We want it to be a place the Super Bowls and Final Fours want to come because it creates this great template for those events coming through, and we want this to be a great place for the community to come in and experience their house for 365 days a year, so that is another focus that we've had.
In terms of the interior design and experience, Allegiant Stadium (in Las Vegas), is probably as close as it gets. It's a translucent roof, like Allegiant. The translucent roof lets daylight through, and it creates a really special experience within an enclosed facility. We are also picturing using quite a bit of glass on the sides to focus on letting as much daylight as possible into the building. In terms of the seating mix, Allegiant is probably the most comparable. It's an efficient design like theirs, and it focuses on the diversity of the experience like Allegiant does.
Many of our fans just want to get to the game, park in their seats, and watch the game. But what you see around the NFL, the best stadiums allow fans the choice about how they want to attend the game and interact with the stadium. So, that may be a great seat that has a good view of the game and they're parked there the entire time. And, that may be a social experience. There's families who want the ability to roam around a little bit with their little ones. We have millennials who would like to have something of a game-long tailgate. So, we are trying to build a building and design a building that accommodates a wide range of experiences.
And this about the exterior:
In terms of the design concepts, we've been paying attention to, first of all we have rallied around this phrase: 'Win on Character'. And, what we mean by that is we see Nashville and Tennessee as a character-rich community. I think about the Ryman. It is a treasure of a venue, the character of that venue. When you build a new building, you certainly want it to have modern comfort and a modern experience, but we also want to embrace that sense of character. We want this building to ultimately reflect the character, the rich fabric of this community, and we feel we've landed on something that's done just that. The second thing is, we are focused on this stadium being so much more than a football stadium. We want this city to be the very best concert venue in the country. We want it to be a place the Super Bowls and Final Fours want to come because it creates this great template for those events coming through, and we want this to be a great place for the community to come in and experience their house for 365 days a year, so that is another focus that we've had.
I see those stadiums with a lot of open areas where you can just walk up to a fence on whatever level and just stand there and watch the game. No sitting in cramped seats rubbing elbows with the person next to you.
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