Titans reach deal with the city of Nashville to build a new domed stadium, per report

The stadium will reportedly cost up to $2.2 billion

The Tennessee Titans look like they'll be getting a new home. Nashville Mayor John Cooper has struck a deal with the franchise to build a new domed stadium, according to Axios. The new stadium would be located east of Nissan Stadium, near I-24, and would be the crowning feature of the recently approved East Bank redevelopment plan. 

This comes after months of negotiations between the city and the team and a formal announcement that includes details on the financing plans may come as soon as Monday. The stadium will cost up to $2.2 billion, per the capital improvement budget the city previously approved. Axios notes that it's expected that the Titans will bring about $800 million in private revenue sources to the deal as well. Other funding sources from the government include $500 million in bonds from the state and a 1% tax on all hotel room rentals in Davidson county. 

While this is a promising and significant step towards a new stadium being built in Nashville, it does need approval by Metro Council. Legislation related to the term sheet should be in front of the council in the coming weeks. 

If/when this stadium deal gets the full green light, it would link the Titans to Nashville for the foreseeable future and open the door for other major sporting events landing in the city, including the Super Bowl and College Football Playoff games. Nissan Stadium is currently unable to host those large events.  

Nissan Stadium has been home to the Titans for 23 years after opening up in August of 1999.