A preliminary 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.
A proposed “Stadium of the Future” has been projected to cost $1.4 billion, with the city handling the majority of the bill. It would include shading for every seat; expanded concourses; extra escalators and elevators; upgraded HVAC; plumbing; mechanical and electrical systems; and other renovations,
Additionally, the team and city have explored a sports and entertainment district in the stadium’s surrounding area, with owner Shad Khan expected to handle most of those expenses, reportedly estimated between $550 million and $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 [the city of Jacksonville’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 designed Mercedes-Benz Stadium in Atlanta and MetLife Stadium in East Rutherford, N.J., has been selected as the architectural partner for the stadium project.
The Jaguars’ lease with EverBank Stadium is scheduled to expire after the 2029 season. An extension would require approval from 75% of the league’s owners. Renovations would also need to be approved by team owners.
