The NFL’s Tennessee Titans are reportedly exploring the possibility of a new stadium after reports in January revealed the team was considering upgrades at Nissan Stadium — its home field since 1999 — that could cost up to $600 million and include a new entertainment district.
The possibility of a new stadium is the result of rising costs associated with the upgrades.
Nissan Stadium was scheduled to undergo several maintenance projects in recent years, but a budget deficit and the global pandemic put plans on hold. Now, the Titans are exploring a new stadium, resetting previous negotiations that the team had held to upgrade its current home.
The Titans would pay nearly double the estimated cost of its upgrade plans to build a new stadium, but it’s a long-term financial decision.
- The team’s current lease requires the city of Nashville to pay for maintenance.
- Titans are owed at least $25 million in repairs that have already been completed.
The Titans’ willingness to build a new stadium opens the door for the city of Nashville to host major sporting events, including a future Super Bowl.
Other NFL teams are exploring new stadiums, including the Buffalo Bills, Chicago Bears, and Washington Commanders.
The Bears are expected to close a purchase agreement for the Arlington International Racecourse by early 2023 as a site for a new home. Benefits of the site include an option for an enclosed stadium, increased capacity, and a potential sports betting lounge.