The Jacksonville Jaguars appear to be poised to get their Lot J deal through to a final City Council vote next week, and Thursday saw them make some concessions, but emerge from the meeting with the upper hand in upcoming stadium negotiations with the city.
Notably, the franchise balked at a relocation penalty proposed as a condition for the Lot J development proposal advanced by the Jaguars and Mayor Lenny Curry.
City Council floated a floor amendment during Thursday’s City Council meeting for prorated liquidated damages provision. The provision would serve as a clawback of up to $152 million in bonded out stadium improvement money from previous projects if the team moves, which would render the reason for construction moot.
A liquidated damages provision “is a dealbreaker not just for us, but for the National Football League as well,” remarked Jaguars attorney Paul Harden.
Jaguars President Mark Lamping, who says the franchise is a “free agent team,” would not say it was a dealbreaker. Yet he contended the team has provided “evidence that we’re committed to stay here, but we have to know where we’re playing.”
The stadium has to “meet the needs of stakeholders,” and