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Jacksonville Jaguars and City Agree on $1.4 Billion Stadium Deal with 30-Year Lease, No New Taxes

May 14, 2024, 11:11 PM

The Jacksonville Jaguars and the city of Jacksonville have agreed on a $1.4 billion deal to renovate EverBank Stadium, described as the 'stadium of the future.' The costs will be split 50/50, with the city contributing $775 million and the Jaguars $625 million. The project, which will not include new taxes, aims to keep the NFL team in Jacksonville for the next 30 years. Construction is set to begin in 2025, with the team playing at home with reduced capacity in 2026 and away in 2027. Mayor Donna Deegan emphasized the importance of the deal for Jacksonville, calling it a 'great deal' for the city. The agreement, pending approval by the Jacksonville City Council and NFL owners at the October 15-16 meetings, also includes a 30-year lease and non-relocation agreement. The city will be responsible for $150 million in deferred capital for stadium maintenance.