Report: Preliminary deal for Jaguars stadium renovations ‘imminent’

A deal between the Jaguars and the city of Jacksonville regarding renovations to EverBank Stadium is “imminent,” according to Jim Piggott of News 4 Jax.

Piggott’s reporting suggested a deal could be reached and revealed by next week, with the next Jacksonville City Council meeting scheduled for May 14.

“Residents should have some answers to exactly where this is going, what it could cost and who’s paying for what,” Piggott wrote, referencing the upcoming assembly and noting the deal would focus only on the stadium and not developing the surrounding area.

Proposals for Jacksonville’s “Stadium of the Future,” which would include shading for every seat, expanded concourses, extra escalators and elevators, upgraded HVAC, plumbing, mechanical and electrical systems, and other renovations, have been projected to cost $1.4 billion, with the city handling the majority of the bill.

Additionally, the team and city have explored a sports and entertainment district in the stadium’s surrounding area, with Jaguars’ owner Shad Khan expected to handle most of those expenses, reportedly estimated between $550 million to $668 million.

“What we’ve discussed with the city and what’s contained in this memorandum of understanding is we get to 50-50, but more of their [Jacksonville’s’s] 50% is going to have to go into the stadium because that’s what the league’s going to look at and more of Shad’s 50 is going to have to go into the development around the stadium,” Jaguars president Mark Lamping said in June 2023.

Construction has begun on a Four Seasons Hotel and Residences, pitched by Khan, in the Jacksonville shipyards in front of Jaguars headquarters. The resort’s anticipated opening is in 2026.

HOK, which ran point on constructing Mercedes-Benz Stadium in Atlanta, Ga., among other venues, has been selected as the architectural partner for the stadium project.

The Jaguars’ lease to play in EverBank Stadium is scheduled to expire after the 2029 season. An extension would require approval from the NFL and 75% of the league’s team owners.

Story originally appeared on Jaguars Wire