After governor Bill Lee proposed $500 million in bonds to put towards a new indoor stadium for the Tennessee Titans, it has been revealed how much the team’s ownership will put in.
House Speaker Cameron Sexton told a local radio station on Friday (H/T Nashville Post) that controlling owner Amy Adams Strunk and family are supplying $700 million towards the new 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 says the plan is for the indoor 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 obvious 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 estimates of the stadium costing around $2 billion are accurate. That will likely have to come from Metro Nashville.
