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Jaguars stadium renovations deal: Here’s what we know about the cost, what will be built

actionnewsjax.com news staff
·3 min read
20

Action Sports Jax’s Brent Martineau received an advanced look at the City of Jacksonville and the Jaguars’ Tuesday night presentation to the City Council on the deal to renovate EverBank Stadium.

Jacksonville Mayor Donna Deegan, Jaguars President Mark Lamping, and city negotiator Mike Weinstein allowed Martineau and other local sports journalists to learn the details of the presentation, which could then be revealed at 5:45 p.m. Tuesday.

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Here is what we learned from Deegan, Lamping, and Weinstein:

What is the deal? The city agreed to put $150 million aside to take care of the building next couple of years because they hadn’t. The renovation itself is 50/50 – $625 million from the Jaguars and $625 million from the city. Counting the $150 million for maintenance, that’s $1.4 billion total. The split from that is $775 million for the city of Jacksonville, $625 million for the Jaguars.

Why spend the money? Deegan said you can’t spend money like this on schools, as it’s a different pot of money. Licensing and a new build didn’t make sense for Jacksonville. When presenting the deal to the NFL, they plan to stress that the state of Florida is not helping with funding, that the city of Jacksonville is working alone.

They want the deal to:

  • Protect taxpayers.

  • Protect the Florida/Georgia game and other events.

  • Benefit the entire community.

Are the renderings real?: What has been shown in the renderings is what will be built. The stadium will have a flexible capacity with 63,000+ seats for Jaguars games and 70,000+ for Florida-Georgia game.

The stadium will have rain cover, more AC spaces, restrooms, and concessions.

Among the features that will be built are 16 escalators, 12 elevators, concessions doubled, 12 new restrooms, and 100% of seats covered.

The stadium will be open-air with a 15% reduction in temperature.

Where will the Jaguars play during renovations?: It’s down to either Orlando or Gainesville for one season, in 2027.

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Estimated economic impact?: $26 billion during a new 30-year lease and a $2.4 billion estimated one-time impact during construction.

What about overruns? Jags have assumed those in the past. Potential overrun is substantial. Jags will pay for that.

What’s the community benefit? During construction, there will be a focus on workforce development. People will be trained, due to a shortage of workers in the area. The plan is to keep business as local as possible, maximizing local vendors and labor.

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What are the Jaguars and the city saying? The Jaguars and the city released the following statement as Deegan, Weinstein, and Lamping answered media questions after the deal presentation:

“Mayor Donna Deegan, lead negotiator Mike Weinstein, and Jaguars President Mark Lamping jointly presented a landmark stadium renovation agreement at the Jacksonville City Council meeting on Tuesday, May 14.

“All parties are pleased to have reached agreement on the framework of a deal that protects the taxpayers, benefits the entire community, and secures the Jaguars’ presence in Jacksonville for decades to come.

“Estimates suggest the economic impact of the renovated stadium to the Jacksonville community throughout the Jaguars’ 30-year lease will total $26 billion, with an estimated $2.4 billion in one-time economic impact during construction.

“This $1.4 billion deal compares favorably to other NFL markets. It is also the largest public infrastructure investment in Jacksonville history, and the largest private investment in the history of downtown Jacksonville.

“More details on the agreement and renderings can be found at www.jacksonville.gov/sotf”

See the presentation of the deal below:

Stadium of the Future Economic Framework by ActionNewsJax on Scribd

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