After Tennessee Gov. Bill Lee proposed $500 million in bonds to put toward a new indoor stadium for the Tennessee Titans, it has been revealed how much the team’s ownership is willing to put in.
House Speaker Cameron Sexton told a local radio station on Friday (H/T Nashville Post) that controlling owner Amy Adams Strunk and her family have offered to put $700 million toward the venue.
Sexton notes that the Adams family is “investing everything that they have and liquidating almost everything that they have” to get to the $700 million total. He also notes that the investment would be their single largest in anything they own.
“They are investing everything that they have and liquidating almost everything that they have to come up with their $700 million to invest in this stadium,” Sexton explained.
“This stadium would be their largest single investment that they have in anything that they own… That tells you how important, how much they’re into it, which gives me some confidence that they’re here to stay,” Sexton continued.
Sexton said the plan is for the stadium to have a retractable roof, and added sales tax revenues from major events would help fund education and infrastructure in rural areas. He also noted that he believes the state has recouped the money invested into Nissan Stadium “a couple times over.”
The elephant in the room here is that the $1.2 billion combined that the Adams family and the state are coming up with leaves a potential gap of $800 million if the cost estimate of the stadium — about $2 billion — is accurate.
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Titans ownership offers to come up with $700M for proposed new stadium - Titans Wire
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