$775M Vanishes – Jaguars Skip Town Next Year

Miniature businessman standing on US dollar bills — Photo: Jestercine / Shutterstock

Jacksonville taxpayers are on the hook for $775 million to renovate a stadium that won’t host a single Jaguars home game next year.

Story Highlights

The city approved $775 million in public spending for a $1.4 billion renovation, while the team relocates to Orlando for 2027.
A Jaguars-commissioned study projects $21.7 billion in impact through 2052, but core model details are not public.
Independent economists say stadium subsidies rarely deliver broad economic gains for taxpayers.
The deal includes a 30-year non-relocation pledge to keep the team in Jacksonville.

City Commits $775 Million While Games Leave for 2027

Jacksonville’s City Council approved a stadium agreement that commits $625 million for construction and another $150 million for maintenance and repairs, bringing the public tab to $775 million. The project cost is reported at $1.4 billion, with the Jaguars’ owner Shad Khan also putting in $625 million. National Football League owners approved the renovation plan, and the city says it will modernize the venue for decades of events.

Construction disrupts the next two seasons. The team expects reduced capacity in 2026, then no Jacksonville home games in 2027. The National Football League approved Camping World Stadium in Orlando as the Jaguars’ temporary home for that year. Team and league statements say EverBank Stadium should reopen for the 2028 season after the renovation.

Big Promises From a Team-Commissioned Impact Study

A Tourism Economics report commissioned by the Jaguars projects $21.7 billion in economic impact between 2028 and 2052. The study cites $10.3 billion in direct spending, such as payroll, operations, and marketing, with the balance tied to supplier and worker spending. The public record does not show the full model, including multipliers, displacement, or leakages that can reduce net gains. The lack of detail limits outside review of the headline number.

Coverage also flagged attendance assumptions that run into near-term conflicts. The study counted major events and projected strong annual crowds, but Jacksonville will host no home games in 2027. Reports say even long-running events, like the Florida-Georgia game, moved in the cited years, raising questions about event counts used in the model. These gaps weaken confidence in forecasts that stretch more than two decades into the future.

Economists Warn Taxpayers Rarely See Promised Payoffs

Independent economists long argue that stadium subsidies shift spending rather than create new growth. Victor Matheson says studies not tied to teams find impacts that range from zero to very low. He also notes that benefits often look like transfers from taxpayers to wealthy owners, not broad gains for city budgets. A local review of more than 130 academic papers reached similar conclusions about weak returns from public sports spending.

Local data deepen concerns. News reports found the city’s stadium operating expenses topped $87 million over four years through 2023, while revenue barely cleared $20.6 million. That left a net city contribution of $66.4 million for operations alone. Critics argue these numbers show why rosy projections deserve close scrutiny before taxpayers fund another large round of capital work.

Supporters Cite Stability and Event Growth; Accountability Still Needed

Backers point to a 30-year non-relocation commitment that keeps the Jaguars in Jacksonville. They also say a modern stadium will bring more college games, concerts, and special events. The National Football League unanimously approved the plan, and city tourism voices framed the venue as a long-term asset for fans and local pride. These benefits matter to many residents and businesses near the stadium district.

Taxpayers deserve hard guardrails as work begins. First, publish the complete impact model and all assumptions. Second, set yearly benchmarks for attendance, events, hotel taxes, sales taxes, costs, and debt service. Third, have an independent public audit compare actuals to the forecast every year. Finally, disclose cost-control terms, including who pays for overruns. These steps help ensure Jacksonville gets real value, not just big promises, from a very big check.