JACKSONVILLE, Fla. (AP) -The Jacksonville Jaguars have secured a stadium-naming-rights deal, giving the small-market franchise some extra cash in a tough economy.
The Jaguars have called an afternoon news conference to announce the contract with EverBank, an $11.5 billion financial institution.
Jacksonville hasn’t had stadium naming rights since a 10-year, $6.2 million agreement with Alltel ended in 2007. That deal was one of the least expensive in the NFL and considered a bargain for the former telecommunications giant, especially after the 2005 Super Bowl.
The Jaguars had been seeking about $5 million annually for naming rights. Under terms of the team’s lease agreement, the team will receive 75 percent of the naming-rights revenues. The city will get the rest.
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