Governor Lee asks for $500 Million For New Stadium in Nashville
Governor Bill Lee is expected to ask Tennessee lawmakers today to add $500 million to the budget to build a new stadium in downtown Nashville for the Tennessee Titans. Nissan Stadium, where the Titans currently play opened in 1999 and is in need of repairs and upgrades. Those repairs were expected to cost around $500 million, but costs have soared making those repairs an estimated $1 billion. Most city officials and state officials agree that building a new stadium would make more financial sense. According to one source, the state’s half a billion dollar commitment would include one caveat…that the stadium not be open air, but enclosed or have a retractable roof. That would allow the stadium to host events year round and could possibly bring a Super Bowl to the music city and Tennessee. Lee is expected to say that bonds will be issued to pay for the state’s $500 million part. State funds are also contingent on the Titans and city agreeing on a broader financing package.