There is no cost estimate for the renovations.
Jacksonville, come on down you’re the next contestant on the National Football League’s version of the Price Is Right. Jacksonville elected officials are now on the clock as Jaguars owner Shad Khan’s lease with the city to use the municipally owned stadium ends in 2029. Khan and his management team have laid out what they want after 2029 in a renovated stadium and now it’s up to Jacksonville politicians to acquiesce and give the NFL owner what he wants. A 21st century state-of-the-art stadium. Khan does not provide Jacksonville Jaguars consumers with a full home schedule of games. The team has played an annual game in London since 2013. Jacksonville is a small market and has not seen the growth that was promised when the NFL awarded the city an expansion franchise in 1993. Khan’s business gets about 11% of its local revenue thanks to the annual London game. Khan’s local Jacksonville ticket, television, sponsorship and stadium revenue streams are much smaller than teams in larger markets. Khan is locked into an annual game in 86,000 seat Wembley Stadium in London through 2024.
Khan and his management team want some sort of roof over the Jacksonville stadium to protect customers from the hot Florida sun in the early part of the season and inclement weather. How much will the roof cost? Maybe $375 million, maybe more. Khan also wants to reduce the number of seats available in the stadium and what that will do is create a scarcity of tickets and if the law of supply and demand kicks in, Khan will be able to charge more for seating because there is less inventory available. How much will the renovation of the stadium which underwent a facelift in 2014 cost? Khan will tell you that later. The stadium game has returned to Jacksonville.
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