As the Jaguars prepare to unveil gigantic new video boards, they’re renewing their vows with an existing sponsor.
Via the Florida Times-Union, the Jaguars will announce on Friday a deal with EverBank that will keep the financial institution’s name on the stadium where the team plays through 2024.
Technically, it’s a 10-year extension to the five-year, $16.6 million contract signed in 2010. The average value of the new deal is expected to exceed the $3.32 million per year average of the current contract.
It’ll possibly need to go up a lot for the Jaguars to see a net gain. Jacksonville agreed to sacrifice its right to 25 percent of the money under the first contract. The Jaguars will have to negotiate that term all over again in the new deal.
The Jaguars quietly have surged in the local market since the sale of the team from Wayne Weaver to Shad Khan. Rumors of relocation have subsided if not disappeared, even though the team currently plays one game per year in London. Ticket sales are up, the team is improving, and a solid front office and coaching staff are in place, with Dave Caldwell and Gus Bradley leading the way.
Throw in a weak AFC South, and the Jags could make a run at their first playoff berth since 2007.