Report: Jaguars sell stadium naming rights to local bank

Posted July 27, 2010 @ 10:51 a.m.
Posted By PFW staff

The Jaguars and EverBank will announce today that they have reached a deal giving the Jacksonville-based financial institution exclusive naming rights to city-owned Jacksonville Municipal Stadium, The Florida Times-Union reported Monday. Terms of the agreement have not been disclosed, but the Jaguars were looking for as much as $5 million per year.

According to the Jaguars' lease agreement, the club will receive 75 percent of the stadium naming rights revenues, and the city will receive the remaining 25 percent.

The Jaguars have been seeking a naming partner since their 10-year, $6.2 million deal with Alltel expired after the 2006 season.

The agreement gives the Jaguars some much-needed revenue and should also assist in selling tickets — the Jaguars must still sell nearly 10,000 tickets per game to avoid television blackouts this season.

 

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