So the Jags and Everbank have agreed in principle it seems to a 5 year deal with $3 million being paid in year one and that amount escalating annually at an incremental level up to $3.5 million in year 5. This is according to Paul Kuharsky the ESPN AFC South Blogger. Anyway, the stadium/team's deal with the city is supposed to be a 75% to 25% split of naming rights rev so the team would keep the bulk with the rest going to a stadium improvement fund. None of this has been finalized as of yet, as it needs City Council Approval, but I figured we could try to get a thread started on this topic.
1. I think the length of the deal further demonstrates the teams commitment to staying in Jax. The LA talk has a team playing there in the next 2-3 years. This deal is for 5 and adds another set of contracts & agreements that would have to be broken if the team were to move.
2. The increased revenues, while not too much, are vital to helping the team in its financial position given the ticket sales situation.
3. The fact that it is a local business adds to the "feel good" factor, as it is a reputable bank that has done well for itself despite the recent recession and economic environment in general. It always feels better when a stadium's name sponsor has local ties.