Report: Jaguars would pay 33 percent of the cost of renovated stadium
The Jaguars have released drawings of their renovated stadium. They did not explain who would pay for it, or how much would be paid.
Via David Bauerlein of the Florida Times-Union, the rough estimate of the cost of the renovation is “up to $1.4 billion.”
Per the report, the Jaguars would pay for 33 percent of the amount, with the city kicking in 67 percent.
So, at $1.4 billion, the team would pay $462 million, and the city would be responsible for $938 million.
“There’s going to be a lot of give and take, and the lease negotiations will be happening at the same time as the negotiations on the renovation,” Jaguars President Mark Lamping said, via Bauerlein. “We would not invest the amount of money that [owner] Shad Khan is prepared to invest in the city-owned building without a lease extension, nor would the city.”
The lease extension becomes a given, if the stadium if renovated. The question becomes what happens if the Jaguars can’t get nearly $1 billion in taxpayer money?
But we already know the answer. Plan B is London.
The deeper question is whether Plan A is London. Whether the Jaguars believe they won’t get what they want, and then after exhausting all reasonable efforts will move to England without being perceived as the bad guys.
Remember this -- Khan once tried to buy Wembley Stadium. Also, the team isn’t hosting one game per year in London because it’s not profitable.
It all hinges on whether they get what they want from the taxpayers. And they apparently want a lot.