The NFL's Jacksonville Jaguars and the City of Jacksonville have agreed to a $1.4 billion stadium deal that will keep the team in the city for another 30 years.
According to NBC Sports, the proposal calls for each side to contribute $625 million to the $1.25 billion project. Jacksonville won’t levy any new taxes to pay for the rebuild and has committed to another $150 million to get EverBank Stadium ready for construction in 2026.
The city will contribute its $600 million through a capital improvement plan uses an existing half-penny sales tax.
The city council heard the plan Tuesday and is expected to vote on it next month, with a simple majority of the 19 members needed to pass. NFL owners would then vote on it in October, with 24 votes needed for final approval.
If approved, construction is slated to being after the 2025 season, with the Jaguars playing in a reduced capacity stadium in 2026, playing their home games in either Gainesville or Orlando in 2027.
The 63,000-seat, open-air stadium, which includes a translucent covering, could be expanded to 71,500 to accommodate big events like the annual Florida-Georgia game.
The team’s current lease runs through 2029.
