Agreement near on Tennessee Titans stadium financing

The Tennessee Titans National Football League team is close to agreeing a funding package for a new stadium with Nashville's Metro Council. 

The stadium could cost about $2.2 billion and would be located in the centre of Nashville, close to the team's existing Nissan Stadium. The process is being closely watched because of what it might say about the willingness of states and cities to support new stadium construction.

The team and city are reported to be negotiating how to allocate the costs of the new facility, and how much additional revenue and economic development a new facility might attract. Oracle is developing a new campus near the stadium, and an upgraded stadium would be able to host a wider variety of events.