Nashville’s MLS expansion chances received a major boost today in the form of a stadium plan.
Nashville appears to have checked off one of the most important boxes in the MLS expansion race today as the city’s mayor Megan Berry announced a $250 million plan for a 27,500 seat soccer stadium on the Nashville Fairgrounds.
Of that $250 million price tag, 90% of it is funded by the prospective MLS ownership group and revenue to be generated by the stadium.
The plan calls for $200 million of the funding to come from revenue bonds, while local government and the owners themselves are kicking in $25 million each. Bonds and other funding won’t kick in until the city is awarded a franchise.
“A Major League Soccer franchise represents an incredible opportunity for Nashville to continue its growth and take its place on the global stage,” Mayor Barry said. “This stadium plan and MLS bid represents significant private investment, and it safeguards taxpayers with a truly private-public partnership.”
This announcement certainly boosts Nashville’s chances of landing an MLS franchise in December. One of the league’s main criteria is a solid stadium plan, and Nashville is among the only ones who can present one at the moment.