The University Of Tennessee System Office Awards Facilities Contract to 865 Entertainment Developer Llc (May 2026)

The University of Tennessee Board Executive Committee approved a 99‑year ground lease with 865 Entertainment Developer LLC for the Neyland Entertainment District project. UT will receive $750,000 in annual base rent plus percentage rent on gross revenues while the developer finances and operates the $65 million entertainment complex.

Scope & details

The full contract record, as filed.

Contract amount

$65 million development cost; annual Base Rent $750,000 plus Percentage Rent

Contract type

FACILITIES

Contract term

99-year Entertainment District Ground Lease; University purchase option at year 40 and every 10 years thereafter

Renewal

Initial 99-year ground lease with University option to purchase the Entertainment District on the 40th anniversary and every 10 years thereafter; lease may terminate earlier upon default or University exercise of repurchase rights.

Document type

Agenda

Source document

University of Tennessee Executive Committee Agenda May 2026

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University of Tennessee Board of Trustees Executive Committee Agenda Packet 2026-05-04

APPROVED

Housing Authority of Middlesborough, KentuckyAnnual base rent of $750,000 plus percentage rent based on gross operating revenues thresholdsMay 4, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the facilities contract by The University Of Tennessee System Office?

865 Entertainment Developer Llc was awarded this facilities contract by The University Of Tennessee System Office, as recorded on May 2, 2026. The contract value is $65 million development cost; annual Base Rent $750,000 plus Percentage Rent.

How much is the 865 Entertainment Developer Llc contract with The University Of Tennessee System Office worth?

The 865 Entertainment Developer Llc contract with The University Of Tennessee System Office is valued at $65 million development cost; annual Base Rent $750,000 plus Percentage Rent, covering facilities work.

What type of contract is this?

This is a Facilities contract, documented as a agenda record.

Where was this contract approved?

This contract appears in University of Tennessee Executive Committee Agenda May 2026 (Agenda), dated May 2, 2026 from The University Of Tennessee System Office. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does 865 Entertainment Developer Llc hold?

865 Entertainment Developer Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View 865 Entertainment Developer Llc's profile

What is The University Of Tennessee System Office currently buying?

Explore The University Of Tennessee System Office's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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