The Nashville Predators finally have the kind of security the former expansion franchise has been wanting for years after agreeing to a new 30-year arena lease that runs through 2049. The Predators announced the agreement today for Bridgestone Arena at a Metro Nashville Sports Authority meeting. The sports authority is expected to vote on the new lease next month.
This new deal will eventually end a Nashville city subsidy that costs Metro Nashville approximately $3.5 million a year for arena maintenance and improvements. The Predators will use money from sales and ticket taxes to help pay those costs. Nashville, through the sports authority, had been responsible for investing an estimated $183 million into the arena over the next 20 years.
Predators president Sean Henry also announced at the meeting the Predators plan to spend $350 million in renovations and maintenance to the arena over the next 20 years. The Tennessean reports the first phase of those renovations scheduled for 2021 to add about 1,200 seats and a new press box.