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The Jacksonville Jaguars have reached a $1.4 billion stadium deal with the city to stay in the city for another 30 years, according to the Associated Press. Each side will contribute $625 million to the project without any new taxes being levied by Jacksonville. An additional $150 million will go towards getting EverBank Stadium ready for construction to begin in 2026.

To finance its portion of the project, the city plans to move $600 million from a capital improvement plan and utilize revenue from an existing, half-penny sales tax. The city council will vote on the proposal next month, with a simple majority of the 19 members needed for approval. NFL owners will then vote on the deal in October, requiring 24 votes for final approval.

Construction is set to begin after the 2025 season, with the Jaguars playing in a reduced capacity stadium in 2026 and using alternative locations like Gainesville or Orlando in 2027. The new 30-year lease agreement stipulates that the Jaguars will play all preseason and postseason games in Jacksonville, with one home game annually in London at Wembley Stadium.

Jaguars owner Shad Khan will cover any construction cost overruns and take on day-to-day operations of the stadium, as well as the majority of game-day expenses going forward. The 63,000-seat open-air stadium has the potential to expand to 71,500 for major events like the Florida-Georgia game. The team’s current lease extends through 2029.

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