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Blog Entry

Report: Jags move would cost Khan $25M to charity

Posted on: December 18, 2011 10:27 am
 
By Will Brinson

Jaguars fans are thrilled about the prospects of new owner Shahid Khan turning the Jags back into a contender, but they're obviously concerned with the possibility of the team moving. On Thursday night in Atlanta, Khan, having been formally approved to buy the team, said "No" when asked if he would move the team.

But there's reportedly a financial impediment to moving the team as well -- Jason LaCanfora of the NFL Network reports that if Khan moves the team within the next five years, "he would have to donate $25 million to the charity of Wayne Weaver's choice."

That's a substantial chunk of change, and it doesn't take into account what Khan would have to pay to the city of Jacksonville to break the lease with Everbank Stadium, which runs through 2029, either.

According to Jacksonville City Attorney Cindy Laquidara, the lease is "very tight" in terms of limiting the owner from getting out from under it.

Tight enough, in fact, that it would require an owner breaking it to pay 1) base rent; 2) ticket surchage revenues of about $750,000 a year; 3) parking revenues of $250,000; 3) stadium branding revenues of $250,000; 4) and "supplemental rent and all future payments."

Add it all up and one of the attorneys who negotiated the lease told FirstCoastNews.com that it will cost an owner $90 million to move the Jags.

That's before, of course, the $25 million donation to charity that Kahn would reportedly owe. (One has to assume said charity would also be in the Jacksonville area.)

Five years from now, things might change in terms of what Kahn's willing to do in order to move the Jaguars. And if he wanted, he could move them right now. It would just be really expensive and a public-relations nightmare.

So banking on the Jags to bail on Jacksonville in the immediate future doesn't seem like a good bet.

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Comments

Since: Aug 6, 2011
Posted on: December 18, 2011 5:20 pm
 

Report: Jags move would cost Khan $25M to charity

Yeah but Los Angeles would give him a lot more than that. Lol



Since: Sep 1, 2011
Posted on: December 18, 2011 5:03 pm
 

Report: Jags move would cost Khan $25M to charity

IMO 10 years from now, the Jags will be in Jacksonville



Since: Nov 3, 2009
Posted on: December 18, 2011 1:06 pm
 

Report: Jags move would cost Khan $25M to charity

Weaver selling the team wasnt BIG new's as a fan Ive known for 2 yrs he wanted out and Ill take the bet the jags dont bail on Jacksonville,
  and the new owner knows that from what ive read a L.A team has to pony up for a new statuim..and thats what? almost as much as it takes to
 break the lease in jacksonville. and Khan didnt get rich making dumb moves..so stop promoting girlie drama and pick some winners :)

 



Since: Oct 26, 2009
Posted on: December 18, 2011 12:37 pm
 

Report: Jags move would cost Khan $25M to charity

Oh dear, 25 million dollars for a billionaire.  He probably has that in his pocket.  And the dreaded upbreakable stadium lease.  Get a clue, idiots.  The fact that Weaver put that into the contract shows that Weaver knew he as thinking about moving the team and Weaver wanted a nice boost to his reputation when it happens.  And it will happen.  "So banking on the Jags to bail on Jacksonville in the immediate future doesn't seem like a good bet."  I'll take that bet.  I'll take that bet the same way I was willing to take the bet that Weaver would sell the team when so many in Jacksonville said it would NEVER happen.  Remember that, Dan Hicken and all his koolaid drinking minions?



Since: Jul 3, 2010
Posted on: December 18, 2011 11:50 am
 

Report: Jags move would cost Khan $25M to charity

Why would the Jags want to move and to where?  LA?  They would have a team by now....if it was such a hotspot for football.....be real people....did the government not bailout businesses in trouble that owned land, properties here in the United States of America??  Did they not?  The Jags took a cat dump when they did not take Tebow, but it is not the end of the world...even though they would have sold out every dam game.  Football is good in J'ville and things are tuff all over for ALL TYPES of businesses.  People who have blogged on here....me may have been layed-off over the past 3 years....yes 3 years it has been bad.  Go get a team LA....a football team.  Hell I would love to have a MLB team here in Jacksonville.  Would love it and support it, but that is not gonna happen and not in my lifetime.  IT IS A GOOD TOPIC FOR A SPORTS DEPARTMENT TO WRITE A STORY ABOUT....gets a lot of bloggers going, get me going....but hey we got the first minority owner....and this dude has a dong mustache and wants to take the team international....take the NFL international (for that matter)....and why not - he's the man!



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