EverBank Financial Corp. and the Jacksonville Jaguars agree they want to keep the bank’s name on the stadium.
“We would be honored to continue to call EverBank Field the home of the Jacksonville Jaguars for many years to come,” said Jaguars President Mark Lamping in a statement Wednesday.
The five-year, $16.6 million naming rights deal expires in early 2015 after the coming season. EverBank Financial CEO Rob Clements said last week his organization was discussing renewing the naming rights with the Jaguars and would like to see the partnership continue.
Lamping agrees.
“We continue to focus our full attention on reaching an extension agreement with EverBank because they represent everything we are looking for in a naming rights partner,” Lamping said in an email from the Jaguars front office.
“EverBank is a locally based, fast growing, innovative company with strong leadership that cares deeply about the Jacksonville community,” he said.
Lamping offered no specifics. Clements, who spoke Thursday after EverBank’s annual meeting of stockholders, said it was premature to comment about details.
Mayor Alvin Brown’s office referred questions to the Jaguars. The city owns the stadium.
Clements said last week that sponsoring EverBank Field has elevated EverBank’s profile nationwide.
The Jaguars and EverBank announced the five-year partnership in July 2010. The deal paid the Jaguars $3 million the first season, $3.15 million in 2011, $3.3 million in 2012, $3.5 million in 2013 and $3.6 million this year.
City Council agreed to waive the city’s 25 percent stake, or a little more than $4 million over five years, in the deal.
EverBank is negotiating with a new ownership group this time. In 2010, inaugural franchise owners Wayne and Delores Barr Weaver and their partners controlled the franchise. In early 2012, they sold the team to businessman Shad Khan, who has expanded the Jaguars profile.
EverBank also would be keeping its name on an upgraded stadium. A $63 million project is underway that includes two new end zone video scoreboards, expected to be the largest in the world. The city agreed to finance $43 million and Khan would pay the remaining $20 million. Completion is expected this summer.
EverBank’s agreement in 2010 put a name back on Jacksonville Municipal Stadium. The Jaguars hadn’t had a stadium naming-rights sponsor since Alltel’s 10-year, $6.2 million deal ended following the 2006 season.
The naming rights agreement specified that the Jaguars and EverBank would enter into negotiations during a seven-month period starting March 1, 2013, and if they were unable to enter a definitive written agreement for new naming rights by the end of business Oct. 1, 2013, the city and team could negotiate with other potential sponsors.
EverBank, the Jaguars and the city have not commented specifically about that language or if there is a definitive written agreement.
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