Sports authority OKs $1.42 million SEC reimbursement, stadium funding reordering and other finance items

The Nashville Sports Authority approved multiple finance committee resolutions at its Geodis Park meeting, including a $1,417,611 reimbursement tied to the 2025 SEC tournament and a redetermination of pro rata funding percentages for the new football stadium’s construction trust agreement.
Finance committee chair Dan Hogan summarized a package of motions the committee recommended for board action. Those included: authorizing up to $20,000 for fiscal 2026 staff and board professional development from fund 30289; approving payment of just under $2,000 for services related to First Horizon Park performed by Capital Project Solutions and authorizing up to $5,000 per occurrence for future emergency maintenance at that venue; approving a reordering of pro rata draws under the stadium construction funds trust agreement to change how PSL (personal seat license) proceeds are applied; approving first amendments to the Bridgestone Arena lease and the SEC tournament agreement to reflect the SEC tournament’s expansion; and authorizing reimbursement of $1,417,611 to Powers Management LLC for costs associated with hosting the 2025 SEC tournament.
Staff noted that Basbury & Sims served as counsel on the pro rata funding amendment and that Metro Legal recommended approval. The finance committee said the proposed pro rata reordering should benefit the authority because it advances PSL proceeds in the draw order and may increase available authority revenue allocation.
Each item was moved and seconded and approved by voice vote. The resolution authorizing reimbursement to Powers Management LLC was presented after the board approved amendments to the related agreements; the board then approved the $1,417,611 reimbursement by voice vote.
The First Horizon Park invoice and supporting photos were included in the meeting packet behind the relevant tab; fund 30289 was cited as having sufficient funding for the professional development allocation. The meeting record contains no roll-call tallies for the voice votes and does not provide alternate motions or recorded dissents in the transcript.