Memphis mayor Jim Strickland has proposed that his city gift Simmons Bank Liberty Stadium to the University of Memphis foundation so the school can help fundraise money for necessary renovations.
“It allows us to have a win-win," the mayor explained, according to Fox 13.
Memphis mayor Jim Strickland has proposed that his city gift Simmons Bank Liberty Stadium to the University of Memphis foundation so the school can help fundraise money for necessary renovations.
“It allows us to have a win-win," the mayor explained, according to Fox 13.
The state of Tennessee this spring granted $350 million to the Memphis for renovations to local stadiums, including Simmons Bank and FedEx Forum. However, the funds weren't enough to cover the bill.
City leaders estimated it will take $220 million to renovate Simmons Bank Liberty Stadium. The city can gift $120 million of the $350 million state grant.
Strickland asked for a vote o the matter by the end of the year.
The transfer of ownership only includes Simmons Bank Liberty Stadium and will not include Tiger Lane.
AutoZone Park released the following statement regarding the stadium funding project:
We are aware of the news that the City has come to a resolution on the stadium funding projects and are extremely disappointed that AutoZone Park, which was only seeking a small fraction of the state funding, has been left out. Since this process started more than 18 months ago, we have actively collaborated with the City on ways to achieve full funding for all projects, which is why it is so unfortunate that the critical needs of AutoZone Park have been overlooked. Once the jewel of downtown and the gold standard for minor league baseball stadiums, AutoZone Park is simply no longer considered a top facility in professional baseball. It is in desperate need of standard updates to basic infrastructure, relies on the building next door for critical systems, and is in danger of not meeting Major League Baseball's compliance standards. In order to make the building suitable for public events, AutoZone Park needs the following: Bathroom renovations, concession stand and main concourse improvements, upgraded seats, as the existing seats are original to the facility and many are cracked or broken, concrete work/ repairs throughout the facility, repairs to the roof, expansion joints replaced and the buildings' structural steel painted, updated lighting and locker room improvements..."
