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City councilmembers discuss Jaguars ‘Stadium of the Future’ deal

City councilmembers discuss Jaguars ‘Stadium of the Future’ deal

  • PublishedJune 5, 2024

Workshops on stadium renovations begin Wednesday as city councilmembers discuss the proposed “Stadium of the Future” deal between the Jaguars and the City.

JACKSONVILLE, Fla. — The City Council is hosting a series of workshops, beginning Wednesday, discussing the proposed stadium deal between the Jaguars and City of Jacksonville. 

The agenda shows the Jaguars will have team representatives present, including President Mark Lamping.

The meeting agenda also includes a presentation of the financial responsibilities between team and city, a presentation from Lamping and the Jaguars on the “team guarantees,” and a presentation on the “non-relocation agreement.” 

In the current deal makeup, there is a safety mechanism to the city’s investment into the stadium, which includes the Jaguars having to pay the city for breaking the lease if they relocate the team.

RELATED: Safety net for Jacksonville in proposed lease agreement with Jaguars

Those payments would be based on a sliding scale. If the Jaguars break the lease by leaving Jacksonville in the first 14 years of the 30 year lease, the team would have to pay the city all $775 million of the city’s contribution to the project. That figure declines by 6.25% every year after that, so if the team leaves Jacksonville 20 years after the lease starts the Jaguars would still pay the city $484,375,000.

The scale declines by about $48 million every year until reducing to zero dollars in the 30th and final year of the agreement. However, the Jaguars are not required to stay in Jacksonville for every home game. Part of the lease guarantees the Jaguars the right to play one home game a year outside of Jacksonville. The team has played in London 11 times since 2013.

As stated by the team when the initial agreement was proposed, the Jaguars will pay for all maintenance at the stadium and the city will keep revenue from city events at the stadium like the Florida-Georgia game, concerts or even the Final 4, which was proposed in the initial Stadium of the Future presentation.

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