Bears can reference new Titans stadium for future originally appeared on NBC Sports Chicago
The Tennessee Titans reached an agreement with the Mayor of Nashville, John Cooper, to depart Nissan Stadium and build a new one of their own, according to Axios.
Similarly, the Bears are looking to leave Soldier Field to build a stadium of their own. The Titans also paid rent at Nissan Stadium, as the Bears did with Soldier Field.
Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly Chicago Catch-Up newsletter here.
Here are some takeaways the Bears can analyze from the Titans stadium deal:
Rent
The Titans paid rent to play at Nissan Stadium – a cost they will no longer take on the books.
Local
The Bears similarly pay rent to play at Soldier Field. Like the Titans, the Bears are attempting to escape the cost of rent by building a new stadium they can call their own.
The Titans will pay $1.7 billion over the next 17 years to cover the cost of exiting their lease with Nissan Stadium. It's projected the Bears will have to pay around $84 million to exit their lease – if they leave after 2026.
That's drastically lower than the Titans' cost, making the Bears' departure more sensible.
Stadium Costs
The new stadium for the Titans is projected to cost $2.2 billion, around the same as the Raiders paid to construct Allegiant Stadium in Las Vegas.
It's expected the Titans will bring in $800 million in private investment. They will use $500 million in bonds from the state and tax money for the rest. One percent of hotel room rentals will be taxed, along with a sales tax for businesses around the stadium.
This is where things get tricky for the Bears. The Titans are using plenty of public money, like the Raiders, which is not usually beneficial.
The Bears have already stated they want to use public funding only for infrastructure, not for the stadium or any buildings. This is vitally important because overspending public finances can drown a city.
Event Hosting
The Titans are now viable to host events at their new stadium since their plans incorporate a dome.
Those events include the likes of the Super Bowl, NCAA tournaments, concert tours, etc.
This is one of the larger problems the Bears have with Soldier Field. Because the Bears rent and it's an open-air stadium, the Bears can't profit from hosting events.
A new stadium would give the Bears the liberty to own and operate their own space and maximize profitability from the stadium.
Click here to follow the Under Center Podcast.
