JACKSONVILLE, Fla. – Jacksonville Jaguars owner Shad Khan is hoping to purchase the Jacksonville Fairgrounds property in a move that would add additional parking for fans attending games at TIAA Bank Field.
And it appears the Jacksonville Agricultural Fair board could end up selling the property to Khan.
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According to records, the property is currently valued at $7.7 million.
On Tuesday, the mayor’s office laid out a wish list of sorts for new projects that could be included in the budget this fall. On the list is a two-year, $27 million plan to relocate the Jacksonville Fairgrounds.
The plan would move the fairgrounds from next to the Jaguars stadium to the Jacksonville Equestrian Center off Normandy Boulevard. While the city does not own that land, the $27 million would go towards improving the property and the fair board would build the new fairgrounds from the profit it would make in selling the current site to the Jaguars.
In a statement to News4Jax, the Jaguars said Shad Khan and Iguana Investments are currently focused on the Shipyards proposal that will be reviewed and voted on by the Downtown Investment Authority next Wednesday, and its vision for the stadium that was unveiled earlier this month.
But, the Jaguars added, the potential of buying the fairgrounds property has been an interest of Khan’s.
“The outcome would be additional parking for the benefit of all sports complex events and much-needed flexibility to offer accessibility and ease for ridesharing, which is a challenge for major events at the Sports Complex,” a spokesperson said in a statement. “The relocation of the Greater Jacksonville Agricultural Fair would also result in a much better experience for guests and fans attending Jaguars games or the Florida-Georgia game in the fall when the fair is in progress and Lot P is closed to accommodate the midway attractions.”
The Jaguars said it would also offer additional options for the newly proposed sports complex.
“Iguana will continue to speak with representatives from the Fair and explore a potential transaction, which would represent an additional investment by Shad and Iguana into the future of Downtown Jacksonville,” the statement concluded.
Mayor Lenny Curry is set to present the proposed budget to Jacksonville City Council at some point this month.
Any fairgrounds sale would have to be approved by the council.
