The practice of billionaire NFL owners convincing state politicians to give them hundreds of millions in taxpayer money to subsidize their stadiums is alive and well.
The latest example of this can be found in Tennessee, where the state legislature – House and Senate – passed a budget that includes $500 million for a new Titans stadium in Nashville, according to the Tennessean.
The measure passed the House by a vote of 71-19, and the Senate by a vote of 18-13.
As Pro Football Talk reports, “The balance of the funding for the stadium, which could cost as much as $2 billion, will come from the city, the Titans, and the NFL. The private contribution will be $700 million. Still, that would result a record amount of public funding — by far — with up to $1.5 billion in taxpayer money eventually being diverted to the project.”
Tennessee Titans QB Ryan Tannehill (Jayne Kamin-Oncea/Getty Images)
The massive taxpayer-funded project comes as record gas prices and inflation grip the country. In Tennessee, small business owners have reported that inflation ranks as their top concern, with 67% of small business owners nationwide saying they’ve had to increase prices on consumers to keep up with costs. Another 41% have said they’ve had to lay off portions of their workforce or take out loans over the past year.
Titans Owner Amy Adams Strunk has a net worth of $1.3 billion.
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