by Mike Sharkey
Staff Writer
The clock is ticking on the Jacksonville Jaguars and the City to sign a new naming rights deal for what is now Alltel Stadium. The current deal with Alltel expires Feb. 28 and according to Bill Prescott, the team’s chief financial officer and vice president of stadium operations, if a new deal isn’t in place, the Alltel name will come down March 1.
“It will go back to being called Jacksonville Municipal Stadium,” he said.
Currently, the Jaguars and the City are working with Team Services, a consultant based in Baltimore. Prescott said he’s in contact with Team Services regularly and the company understands the team’s and City’s desire to sign a new naming rights deal before the Feb. 28 deadline.
“These things tend to have a life of their own,” said Prescott. “The goal is to get a deal in place before the Alltel contract expires.”
Team Services negotiated the deal between M&T Bank and the Baltimore Ravens. That deal went into effect May 6, 2003 and is worth $75 million over 15 years.
“We are a similar size market, but a little smaller,” said Prescott.
Prescott said he and other team officials have entertained executives from several companies during the course of the season. While he won’t name anyone specifically, Prescott did say some of the potential sponsors have a presence in Jacksonville.
“We have met with some individuals,” said Prescott. “Now until the Super Bowl (Feb. 4 in Miami) is a really good time to strike a deal.”