Head over heels for big-time sports, Tennessee is pouring hundreds of millions into stadium projects in an effort to lure big events and improve the game-day experience for fans, including those attending Liberty Bowl and FedEx Forum games in Memphis.
Not only did the legislature provide $500 million in bonds for a $2.1 billion domed Titans stadium in Nashville, it approved $350 million for Memphis. The city is putting the money toward renovations of Simmons Bank Liberty Bowl where the University of Memphis Tigers play football and improvements at the FedEx Forum.
State Rep. Kevin Vaughan, R-Collierville, and Sen. Brent Taylor, R-Memphis, passed legislation this year allowing the Shelby Convention and Visitors Bureau to take a greater percentage of Shelby County’s hotel-motel tax revenue to pay off FedEx Forum improvements. The county’s Public Building Authority owns the home of the Memphis Grizzlies and leases it for use.
Taylor, who was serving on the Memphis City Council when the FedEx Forum was constructed, agrees with the spending plan. The Grizzlies initially signed a 20-year commitment to play in Memphis.
“Obviously, this will re-commit them to the city of Memphis if we’re able to get the FedEx Forum renovated, and it needs the renovations. It’s 20 years old,” Taylor said of the project, which is supported across Memphis.