Apparently, entering into a naming rights deal with the Tennessee Titans not only allows a corporation to put its name on the NFL team’s home field, it also provides the opportunity to define the venue.
Adelphia considered the structure on the East bank of the Cumberland River a coliseum. For the last 10 years, LP Building Products viewed it as a field.
Now comes Nissan North America and its belief that it is a stadium.
The Titans have reached an exclusive 20-year agreement with the automaker that will rebrand the facility as Nissan Stadium beginning with the coming season, according to a report from The Tennessean. The report said a formal announcement was to come Thursday.
Downtown-basd LP signed a 10-year deal in 2006 that established LP Field as the Titans’ home. That deal is set to expire this year, although The Tennessean report says that the sides will maintain a business partnership.
The building was called Adelphia Coliseum from 1999 through 2002 and simply The Coliseum in between that deal and the one with LP.
Carlex Glass, the owner of the storied Ford Glass plant in West Nashville, is spending more than $37 million to expand its factory in Vonore, southwest of Knoxville. The project will add about 50 jobs to the workforce of that plant, which is one of four U.S. fabrication sites for Carlex.
NeXovation principals and executives of Dover Motorsports last week amended — for the seventh time — their agreement to have locally based NeXovation buy the Nashville Superspeedway. The parties now expect to close on the deal by July 27, and NeXovation has paid Dover $400,000 (to go with the $2.5 million it has already handed over) and agreed to replenish its escrow account to the tune of $1.5 million by Monday.
The Tennessee Department of Environment and Conservation has set aside almost $700,000 to be used as incentives for consumers to buy or lease electric or hybrid cars. Starting in mid-June, dealerships can submit papers on behalf of buyers of 12 electric car models, which will be eligible for a $2,500 rebate, and 10 hybrid models, which have a $1,500 rebate attached to them. Check out the details here.
First Acceptance is on a bit of a roll lately. Shares of the Green Hills-based auto insurer (Ticker: FAC) are up more than 30 percent since the end of March, and the company last month said it planned to buy more than 80 stores from Nationwide for more than $34 million. On Monday, the company said it has opened its fourth store in the Memphis area. The new location is the fifth since late last year.
POSTDATA: WARRANTY DEEDS