JACKSONVILLE, Fla. – The “Stadium of the Future” faces its final challenge this week in Atlanta as NFL owners vote on Jacksonville’s $1.4 billion package for a new home for the Jaguars.
NFL owners will have the final say on whether Jacksonville’s agreement with the City of Jacksonville on the stadium is up to their standards. The owners will vote on Tuesday to approve or deny the stadium deal, which was green-lit by the City Council on June 25.
Of the league’s 32 owners, 24 must sign off on the deal to make it official. Jaguars owner Shad Khan told the team website that he’s confident that fellow owners will vote for the agreement.
“You never know it’s done until it’s done, but I think the confidence is high,” Khan said. “[Jaguars President] Mark Lamping, the team, have been actively involved with the city, with the league for a long time. We had the joint stadium finance committee meeting here a couple of weeks ago. It was well received.”
Should the deal pass as expected, construction would begin in 2025. Capacity would be reduced to 43,500 in 2026 before the team plays the 2027 in a different venue, expected to be in Orlando or Gainesville. The Stadium of the Future would open in 2028.
Jacksonville stunned the NFL world on Nov. 30, 1993, when it beat out favorites like St. Louis and Baltimore to land the Jaguars. The next momentous occasion was when the City Council voted 14-1 with two abstentions to approve the Stadium of the Future, a $1.4 billion revamp of EverBank Stadium on June 25.
That vote comes with a new lease agreement that keeps the Jaguars here for another 30 years.
The city will contribute $775 million of the estimated price tag. The Jaguars will be responsible for cost overruns, a significant piece of the negotiations. Cost overruns with Buffalo’s new stadium for the Bills are nearly $300 million.