Jacksonville to pay $775M in public funds toward $1.4B Jaguars renovation
(The Center Square) – The Jacksonville Jaguars became the second NFL team this week to get a large sum of public money for a stadium renovation when the City Council voted 14-1 to approve $775 million toward a $1.4 billion renovation of EverBank Stadium.
The Jaguars and NFL are expected to pay $625 million toward the project, using NFL G-4 loans along with funds from items such as naming rights through the new 30-year lease and non-relocation agreement.
Project cost overruns must be paid by the Jaguars.