The Jacksonville Jaguars introduced their plans for a total overhaul of TIAA Bank Field on Thursday. Without a doubt, the plans are stellar.

The best is yet to come in Jacksonville. Take an exclusive first look at our vision for the Stadium of the Future.#DUUUVAL

— Jacksonville Jaguars (@Jaguars) June 7, 2023

The plans look to be similar to SoFi Stadium, the home of the Chargers and the Rams. The proposed renovations do not include a retractable roof, but rather a self-described shade canopy that will reduce the heat factor by 70%, per the team's video release. SoFi Stadium, which is also not fully enclosed with a relatively comparable roof, was built from the ground up at a reported cost in excess of $5 billion.

So, with a stadium already in place to build further upon, the estimated cost should be far less expensive, correct?

Well, yes, it's less expensive. Congratulations if you guessed $2 billion. Or at least that's the upward cost of what's expected for the whole enchilada – the stadium plus an adjoining entertainment district. Per the Florida Times-Union, the estimated range is $1.75 to 2.068 billion.

So, naturally, the following question arises: who's going to pay for the project?

Per the Times-Union, the city's percentage would be half of the project: $875 million to $1.034 billion. The responsibilities for the stadium and adjoining district would be different, however. According to a report by FloridaPolitics.com, who acknowledges the same overall 50-50 team/city split, the city would take on a greater percentage of stadium renovation costs, and the Jaguars the greater percentage for the district. Per the report, the city would take on two-thirds of the cost of the stadium, but 14% of the cost of the entertainment/sports district, with the total coming to an even split.

The long-term benefit to the city is pretty obvious. With such a new and extravagant stadium, it seems far more likely than not that the city would eventually land its second-ever Super Bowl bid. Getting that coveted right seems to be the norm when a new stadium pops up in the NFL. The financial windfall from such a move need not be explained. The NFL Draft would also be on the table. The stadium would also serve to attract top international sporting and entertainment events as well. In short, it would be a magnet for out-of-town visitors and tourism, as well as provide positive exposure for the region.

But half of the entire project cost is a high one for the city. For the new Titans' stadium, the state of Tennessee is funding $500 million and the Titans are fronting $840 million, leaving $760 million coming via local tax dollars. That's just over a third of the total cost for the county.

What's more, the state of Florida will not be providing any funds, as per the standing policy of Governor Ron DeSantis, who previously iterated that public tax dollars are not for professional sports stadiums.

And sitting in the background is a little ol' place called London, which Shad Khan has openly been flirting with for years.  The league has made it clear they want to expand into Europe, and the Jaguars are a very realistic and attractive option.  As such, why wouldn't Khan push forward a deal that's favorable to him when the alternative suits him as well?  

So what might the local decision makers have to say? New incoming Jacksonville mayor Donna Deegan indicated during February a willingness to invest in a new stadium, but not with a blank check:

“I think I know how melody feels about this issue having read that question. Listen, you know, I used to go to the Jacksonville Bulls games back when we had the USFL here right? I remember Colts fever. I remember all those efforts to get NFL teams all those years, and I certainly remember that absolutely impossible, improbable night that we were all sitting on the anchor desk, and Jacksonville did the impossible and got the Jaguars. I’ve been sitting in that stadium in the north endzone for years with people from every walk of life in this city who love the Jaguars and have positive feelings for each other. And I guess I’m saying all that because Jacksonville is a can-do city when we work together to do things. And I believe — I’ve spoken with Shad Khan — I believe he wants to be part of that Jacksonville Renaissance story. But here’s the bottom line: We have to have someone who is willing to negotiate on behalf of the city. It can’t just be OK, here’s my wallet, I’ll open it and take out what you like. I think that any businessman, or businesswoman, would respect someone who would negotiate with them in good faith on behalf of the city and that’s what we have to do. We’ve got a lot of needs in this city and we have to take a much larger view. There are many needs that we have, and it can’t just be about the stadium, it has to be about more than that. And I would certainly hope that the Jaguars would sign a long-term lease on the stadium. I want to keep the stadium and city hands, there’s a lot of things we can do with it, but I think we need some commitments there.” – Donna Deegan via The Florida Times-Union

Deegan responded yesterday with the following to the plan that was released to the public today:

"We have received the initial framework that was created and proposed by the Jaguars. I have asked Mike Weinstein to look at this for me. He brings vast experience working on complex deals for the city.

"We are evaluating the framework and working with the Office of General Counsel and Council Auditor to review all prior agreements regarding the stadium and stadium-area developments.

"As I have said previously, when it comes time for negotiating, we will bring in a team that is experienced in negotiating this type of deal with the NFL. We’re not there yet. Our end goal remains the same. A deal that works for taxpayers, the Jaguars, and the NFL.” – Donna Deegan via Action News Jax

So the question remains as far as whether the city is willing to swallow a potential $1 billion bill to keep the Jaguars in town and create a new sports and entertainment center to help grow the region even further. More likely, there's further negotiating to be done to come to a final agreement, whether that be the amount financed by the city, a future lease agreement, and/or future maintenance responsibilities. And the position of the city council on the deal remains publicly unknown at present. 

At the end of the day, if both sides can find a way to reach an agreement on everything, then the NFL will have to look elsewhere for a team to drag across the pond whenever they set up permanent play. 

Featured image via Jaguars YouTube channel