NASHVILLE, Tenn. (AP) — The Nashville Predators have agreed to a new 30-year lease deal that will help keep the franchise in Music City through 2049.
The Predators announced the agreement Thursday at a Metro Nashville Sports Authority meeting. The sports authority is expected to vote on the new lease next month.
The new deal will eventually end a Nashville city subsidy costing Metro Nashville approximately $3.5 million a year for arena maintenance and improvements. The Predators will use money from sales and ticket taxes to pay those costs.
Sean Henry, Predators chief executive officer and president, also announced at Thursday’s 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.