Paul Kuharich on today's announcement that the Jaguars and the City of Jacksonville have reached an agreement for 63 Million in stadium improvements.
Press Conference highlights-
http://espn.go.com/blog/afcsouth/post/_/id/50937/jags-spending-says-theyre-going-nowhereThe Jaguars announced an agreement with the city of Jacksonville on Wednesday for $63 million worth of enhancements to EverBank Field. It is a flashing signal that says the team is not leaving town anytime soon.
Two new end zone video boards will be the largest of their kind in the world and will be ready for the 2014 preseason. A new north end zone area will make the building feel a lot more like Florida.
The breakdown of how it will be paid for:
- Jacksonville will fund the total estimated $36.4 million from capital project funding to build a north end zone fan engagement area as well as the necessary infrastructure and control room to support the video scoreboards at both ends of the stadium.
- The Jaguars will fund 75 percent of the estimated $26.5 million for the new video scoreboards, with Jacksonville funding the remaining 25 percent from capital project funding.
- The Jaguars will serve as construction manager with responsibilities for any cost overruns.
- Any project savings will be earmarked for additional improvements at EverBank Field.
Press Conference highlights-
http://www.jaguars.com/news/article-JaguarsNews/Khan-Actions-speak-louder-than-words/aaacb30a-eb61-40d4-9006-fa2ebf82b652The enhancements are expected to be completed by the start of the 2014 preseason. They are improvements that will include two state-of-the-art end zone scoreboards, and what the team called “world-class” entertainment and viewing areas in each end zone.
The Jaguars will invest $20 million in the project, and Khan made it clear:
It’s an investment in the city, the Northeast Florida area, and in the team’s relationship with the community.
“Actions speak louder than words,” Khan said, adding that the enhancements help stabilize and strengthen the Jaguars while making the city a destination for college football and other major sports and entertainment and events.
“The headline here today is the one I shared with you in February: that the Jacksonville Jaguars will be proud, bold committed...” Khan added. “In February, those were words. Today, it’s action.”
Jacksonville Mayor Alvin Brown agreed.
“Today is a great example of the leadership and commitment of the Jaguars organization to Jacksonville,” Brown said, thanking Khan for his dedication and vision to Jacksonville.
Khan said the commitment also spoke volumes about Brown’s leadership and his commitment to revitalize downtown and the city’s urban core.
Khan, speaking immediately after the announcement, linked the Jaguars’ $20 million investment in the renovations with $10 million already invested since he bought the team in December 2011 in state-of-the-art locker room and training facilities.
“We have to show leadership, and really, it starts with investing and vision,” Khan said.
Lamping said 100 percent of cost overruns will be the responsibility of the Jaguars, and that any savings under the projected cost will be invested in EverBank Field.