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The city of Jacksonville approved a $1.4 billion “stadium of the future” Tuesday that should keep the Jaguars in one of the NFL’s smallest markets for at least another 30 years and end decades of speculation about the franchise being a potential relocation candidate.
City councilmembers voted 14-1 (two abstained and two more were absent) in favor of the proposal, which now advances to NFL owners for final approval. Owners are scheduled to meet in Atlanta in October, with 24 of 32 votes needed to seal the deal.
“This is a historic day for our city,” Jacksonville Mayor Donna Deegan said. “Monumental. It’s generational progress.”
The Jaguars don’t anticipate much pushback from the league even though the 50-50 financial split is higher than most NFL owners contribute toward new or renovated stadiums.
“There’s a lot of questions, but we’re satisfied that we will be able to effectively answer those questions and look forward to getting this finalized in mid-October,” Jaguars president Mark Lamping said.
The stadium proposal calls for each side to contribute $625 million to the $1.25 billion project. Jacksonville, which won’t levy any new taxes to fund the rebuild, would chip in another $150 million in deferred maintenance to get EverBank Stadium ready for construction in 2026. That essentially pushes the city’s contribution to 55% of the total bill.
Construction would begin following the 2025 season. The Jaguars would play in front of a reduced capacity (no upper deck) in 2026 and then host home games in Gainesville or Orlando the following year.
The proposal includes a 30-year lease, a non-relocation agreement and a provision that limits the number of games the Jaguars can play outside Jacksonville. Under the new lease, the Jaguars would play all preseason and postseason home games in Jacksonville and would continue to play one home game a year in London, likely at Wembley Stadium.
Both sides expect the revamped stadium to lead to more high-profile events.
The Jaguars…
Source link : https://www.foxsports.com/stories/nfl/jacksonville-approves-14b-stadium-of-the-future-that-should-keep-the-jaguars-in-town-for-decades
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Publish date : 2024-06-26 01:35:10
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