Tennessee passes budget including $500 million in funding for new Titans stadium

NFL: OCT 31 Titans at Colts
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It’s officially free-money season for multiple owners.

Twice this month, a pair of old-guard AFL franchises have finagled some money for nothing from public entities. First, the Bills. Now, the Titans.

According to the Tennessean, the Tennessee House and Senate passed a budget that includes $500 million for a new football venue in Nashville. The money will come from a bond that is estimated to cost taxpayer $710 million over the next two decades.

Things got a little dicey for the Titans on Wednesday, when the Senate remove the stadium project from its version of the budget. On Thursday, it returned.

Eventually, the House passed the measure by a vote of 71-19, and the Senate did so with a vote of 18-13.

The balance of the funding for the stadium, which could cost as much as $2 billion, will come from the city, the Titans, and the NFL. The private contribution will be $700 million. Still, that would result a record amount of public funding — by far — with up to $1.5 billion in taxpayer money eventually being diverted to the project.

21 responses to “Tennessee passes budget including $500 million in funding for new Titans stadium

  1. Wonderful news. We need to keep replacing stadiums that are old or outdated. Glad to see the Titans will be staying in TN! Give San Antonio an expansion team!!

  2. And billionaire Jeff Bezos will get a handout for his space rocket hobby, and the computer chip companies who sent jobs overseas will get government (our) money, and we’ll keep subsidizing the petroleum companies that make billions. This country really has its priorities in order.

  3. As it should be – why should a person pay for a stadium that benefits the government with billions of dollars of tax stream revenue. The owner doesn’t see any of this tax stream. And just because they are rich doesn’t mean they should fund the government. The government knows they are making huge bank off of these stadiums and what builds around them, otherwise they would never approve these deals.

    Also, the taxpayers are not paying for this stadium. The stadium is paying for the stadium by the tax revenue it brings in over the duration of its lifespan. The stadium will bring in loads more $ than what is being given up front. Again, that is why these deals are approved. In the end it is a money maker for the government.

  4. This is truly a crime against the American taxpayers. The stadium they have isn’t that old. Look at what my Raiders had to go through all of those years. They had to move 2-3 times and then go back to that terrible baseball field and play football.

  5. Children go hungry while billionaires get huge tax dollars while paying little in taxes themselves. Is this a great country or what?

  6. Giving the Bills money might cost Hochul her job. People not near NW NY are not happy.

    Before the Buffalo crowd complains:

    Jets/Giants moved out of state.
    The Garden is a publicly traded company.
    Barclay center got public funds but it’s the #1 venue in the US for things not sports. Plus three teams play there. It’s in constant use. Their biggest issue was the eminent domain which displaced people and businesses. Similar to the Dodger’s and Chavez Ravine.

    The Bills stadium is going to host what? 8 games? A few monster truck shows? At least in Tennessee they could probably have quite a few concerts. Anyone going to a concert in Buffalo during their 2 weeks of summer?

    As far as generating money: Economics 101: The money spent there would be spent elsewhere. Like in a bar or restaurant. Entertainment dollars are Zero Sum. if not here then there. Been proven in study after study.

    The jobs? Temporary and probably more out of staters than those from NY.

    PS: Niagara Falls is nicer from the Canadian side.

  7. Ya, public funding of stadiums is just awesome! Ask St Louis how that’s working out for them.

  8. There should always be a caveat, if the team has x amount (say 3) of losing years in a row then the bond becomes the responsibility of the owner to repay or sell the team. Tax payers shouldn’t have to be cajoled into paying for a less then stellar owner who really doesn’t care about winning…those fans know what teams those are

  9. They build a retractable roof place and Nashville gets millions from final fours, wrestlemania, etc..

  10. Like it or not it’s how business gets done…at least it’s only the residents of Nashville that are holding the bag on this one.

    Every one of us unknowingly invested in Tesla!

  11. In the early days of the AFL the Kansas City Chiefs owner Lamar Hunt and the then Houston Oilers owner Bud Adams kept the league aflot eceonomically until it caught on. You can’t tell me that Bud Adams daughters couldn’t fund the project themselves?

  12. This is a major victory, I am not understanding all of the negative posts. The the people of Tennessee want to keep their team. The new stadium will secure the team’s future, attract potential free-agents , and host many events outside of Titans football. People will come in from out of town to see the new stadium. Let’s celebrate the new stadium!!

  13. For those saying the city or town get the stadium’s revenue, that’s usually not the case. The owner usually gets stadium revenue, which is part of the deal to split it with the other owners. The NFL has zero interest in stadiums that are controlled by outside entities.

    Why can’t the NFL underwrite low interest loans to teams for these stadium projects? Billionaires helping their own in a productive way. Instead they demand handouts.

    Remember things like this the next time you see the poor demonized for things like foodstamps and public housing. Some people legitimately need a helping hand. Billionaires don’t.

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