Attorneys from global law firm Greenberg Traurig, LLP represented the Metropolitan Government of Nashville and Davidson County in a historic agreement to build a new $2.1 billion fully enclosed stadium for the Tennessee Titans.
On April 26, the Nashville city council approved a proposal to use $1.26 billion in public funds for the stadium co, which will be built on a largely undeveloped tract of land along the east bank of the Cumberland River near the city’s downtown. The city would rely on funds from revenue bonds, sales and hotel tax diversions, and state contributions, making its portion of the project the largest public spend on an NFL stadium to date. About $840 million would come from private funding sources, including the team, NFL loans and grants, and personal seat license sales. It was decided to build a new stadium rather than upgrade the existing facility built in 1999.
The agreement also calls for the creation of the Nashville Needs Impact Fund, with a contribution of at least $47 million from the team. This fund can be used by nonprofits serving Nashville and Davidson County for public education, public transit, gender equity in sports, and affordable housing.
The Greenberg Traurig team was led by Houston Real Estate and Sports Business Shareholder Denis Braham along with Houston and Dallas Public Finance & Infrastructure Shareholder Franklin D.R. Jones, Jr. and Houston Real Estate Of Counsel Gerald P. Lance.
The Greenberg Traurig team collaborated with by Jeffrey A. Oldham of Bass, Berry & Sims PLC and David Abrams and William DiBlasi of Inner Circle Sports.
Original source can be found here.