The Knoxville – Knox County Sports Authority will meet in its regular meeting at 9 a.m. on Tuesday, June 27, 2023, at the offices of Knoxville’s Community Development Corp., 901 N. Broadway.
Among the agenda items to be discussed: An update on infrastructure construction, a report on the final bond pricing, an update on the Sports Authority’s internship program, and a report on recruitment of minority- and women-owned businesses to assist with construction of a $114 million City- and Knox County-owned multi-use stadium.
The Sports Authority will be financing, overseeing construction of and managing the publicly-owned multi-use stadium, to be built on property just east of the Old City. The stadium is expected to host hundreds of events each year – professional baseball games, soccer matches, concerts, festivals and other public events – beginning in 2025.
Public funding sources include $65 million in bonds to be issued by the Sports Authority and a $13.5 million state grant. Tennessee Smokies owner Randy Boyd is contributing more than $46 million through donated land, construction costs and $1 million annual lease payments for 30 years.
An independent analysis estimated that the total economic impact of the publicly-owned stadium and surrounding private development in East Knoxville will be $480 million over 30 years, with more than 400 full-time jobs created.