COUNCIL OVERWHELMINGLY APPROVES OILERS' RENT REDUCTION
Nashville's Metro Council approved an amendment to the
Oilers' stadium agreement that reduces the team's rent by
$19.1M over the 30-year life of the lease, according to Rob
Moritz of the NASHVILLE BANNER. Council members said their
decision to support the change "was swayed heavily" by the
Oilers' announcement Monday to locate their $17M practice
facility locally in Bellevue and not a neighboring county.
The rent change "was needed" because the team had exercised
a contract option not to have the practice facility built
next to the Nashville stadium. Mayor Phil Bredesen and the
Oilers negotiated the rent reduction from $1M a year to
$362,319 (NASHVILLE BANNER, 4/17).