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Soccer in Nashville

Nashtitans

By Nashtitans
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MidTenn1
MidTenn1

Let me know if I got the basic facts right. If so, feel free to share on FB. It is simple, understandable and to the point. Maybe it can go viral.

titanhog
titanhog
thenorthchannel
thenorthchannel

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volsfanwill Burg

volsfanwill

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I noticed on Friday that Gruhn Guitars has a no MLS sign on their fence on 8th.  I'm not shocked,  they previously had signs up for no tax for trax and before that they had keep 8th 4 lanes.  

they seem to just be against everything.

then i noticed that he had an editorial in the tennesseean today against mls.  

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PaulChinetti Town

PaulChinetti

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31 minutes ago, nashvylle said:

The titans have more than enough parking adjacent to the stadium and every game I have gone to I walk nearly 0.6 miles each time. I enjoy the walk too. 

If the MLS stadium is built, I plan on taking an Uber, and go well before the game to experience Wedgewood Houston. 

Imagine if it was in a Metro Center, you could walk to Literally nowhere. 

I don’t understand people who are against everything. Gruhn’s hasn’t even been in that location that long have they, didn’t My Emma used to be there.  

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TheRaglander Hamlet

TheRaglander

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I know of a lot of WillCo dollars that will travel to Davidson County to spend money on the MLS games.  TSC is one of the largest soccer clubs in the state and a lot of the families have season tickets for Nashville SC and plan on getting them for MLS.  Then you have NFC out of Bellevue and TUSC out of Hendersonville.  M'boro with a slew of club level teams.  It's madness to not see the bigger picture and how this area could benefit.   I know y'all already know that... but it's frustrating and I still grow concerned that we will not get this MLS team.  

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PaulChinetti Town

PaulChinetti

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If you have any info on those people @TheRaglander make sure to give them the [email protected] email address. While out of the county any and all support of it is good. Especially larger clubs like that. 

Believe me plenty of the anti people don't live in Davidson but they aren't shy to crap all over the project. 

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Mike G Unincorporated Area

Mike G

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I still don't understand why the 99-year lease on the 10 acres is necessary for this to happen. I'm more ok with the stadium financing, but I'm a little confused about the $13 million/year debt obligation with the city paying $4 mil and the team $9 mil.- I'd rather it be structured so that the team guarantees $9 million, with them making the additional $4 mil if revenue/tax collections/parking surpasses the $9 million. 

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nashvylle City

nashvylle

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1 hour ago, Mike G said:

I still don't understand why the 99-year lease on the 10 acres is necessary for this to happen. I'm more ok with the stadium financing, but I'm a little confused about the $13 million/year debt obligation with the city paying $4 mil and the team $9 mil.- I'd rather it be structured so that the team guarantees $9 million, with them making the additional $4 mil if revenue/tax collections/parking surpasses the $9 million. 

The team guarantees $9mm per year, plus $1.75 ticket tax plus sales tax revenue from stadium plus real estate taxes from private development plus $6mm in rent for private development plus any cost overruns on stadium development. 

That $4MM metro liability is for years 1-5, and reduces to $3MM for years 6-10, and then the team is fully responsible for years 11-30. 

If the team averages 0 people in attendance for all the MLS games, and 0 people for any non-soccer events, and no one in Nashville buys anything from the private development retail... then metro will owe $35MM over 30 years, compared to the team paying at least $350MM in anticipated debt service plus $6mm in rent over 30 years.  35MM / 391 total debt service and rent= team responsible for about 92% of the debt service and rent. 

Conservatively speaking, let’s say the stadium averages 20k fans for 17 games plus 8 non-MLS events at $1.75 ticket tax = $875k in additional revenue per year PLUS 8% (someone please confirm) sales tax on 20k fans spending an average $12 per event at the stadium = $480k in additional revenue PLUS sales tax from private development means metro’s liability is really ~$15MM over those first 10 years. 

However, you need to include the tax revenue gained from the 10 acre private development over the course of that 30 years (~750k net per year) PLUS additional real estate taxes from new adjacent developments given investors want to now be in WeHo next to MLS stadium who otherwise wouldn’t be there PLUS sales tax from NEW visitors who came to Nashville solely for MLS.... 

I truly believe Nashville comes out ahead financially on this MLS deal. 

With that being said, I do think more parking is needed, and I certainly do not want any of the existing uses to suffer. 

Anyone feel free to critique my assumptions. 

Edited by nashvylle
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PaulChinetti Town

PaulChinetti

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Follow up with some info from Councilperson Colby Sledge's newsletter that he just sent out.

"Metro has released the terms of the new deal regarding the development, which includes a minimum $200,000 annual lease payment by the team over 30 years. The team would split parking revenue from non-soccer events at the stadium with the Fairgrounds, some of which could go to cover that payment. Regardless, the team would pay at least $6 million over the next 30 years for the development lease."

"Additionally, as already noted, half of the property taxes from this development would go to the Fairgrounds Nashville, creating another new revenue stream for the property. That amount is estimated at $1.2 million a year to the Fairgrounds, which represents more than a 33 percent increase in revenue from the Fairgrounds' current budget."

"A slight correction from my previous email: the other half of the revenue will go into the city's general fund, not to pay off stadium revenue bonds. Those bonds would still be paid by other revenue created by the development and the stadium, meaning private dollars will still pay off a public stadium."

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PaulChinetti Town

PaulChinetti

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I'm wondering from which parking areas, this money is going to come from? Seems weird that they would get some of it to pay their lease. Unless it's parking on/in the 10 acre area. 

*I've hit my limit of Tennessean articles, so it might say it, just can't see it.

Edited by PaulChinetti
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nashvylle City

nashvylle

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6 minutes ago, Rockatansky said:

I think Metro would only get the local portion of the sales tax (2.25%). I can't imagine the State would give up their cut.

thanks. Do you know how much the state percentage is? And the way I see it, metro nor state get their cut in the "MLS Zone", as that money generated by the stadium could be used to pay off debt (ie reduce metro's liability). 

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PaulChinetti Town

PaulChinetti

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Oh I imagine numerous. 

There would have literally been a line right on Nolensville and tell me that there wouldn't be stop there. Imagine flying into Nashville for an MLS game (NFL, NHL) and taking a train from the airport right to your hotel. Then right to the game. SIGH.

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PaulChinetti Town

PaulChinetti

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It's hard to say, I'd say like  70-30 (80-20) somewhere in there. 

https://www.nashville.gov/document/ID/880b6747-884b-4db0-afcf-a1dead3341a2/August-1-2018-comments-received-July-2630.pdf

Lots of supports in this one too. Also a petitions from MLS2Nashville with 10,000 names on it they say. Lots of supports in this one.

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PaulChinetti Town

PaulChinetti

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26 minutes ago, PaulChinetti said:

https://www.nashville.gov/document/ID/f95296dc-2435-4147-bcae-dc0cd65edd1d/August-1-2018-comments-received-July-3031.pdf

Get a load of the first email. HOLY CRAP!

"Adding a bar will be ideal meeting place for above businesses."
The above business are "200 hotel rooms will be ideal place to order drugs and night company."

"You approve mixed use zoning and have a bar serving who knows what kind of residents at apartments or hotel. You will have intoxicated patrons."

Ok guy. 

Bars.png

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