Jaguars, city of Jacksonville agree on new 'groundbreaking' stadium

The Jaguars are staying in Jacksonville

The Jaguars and the city of Jacksonville reached an agreement on a "groundbreaking" stadium of the future deal, the team announced Tuesday.

The stadium deal is worth $1.4 billion and ties the Jaguars to Jacksonville for at least 30 years, according to Mark Long of the Associated Press.

The pact will see the city contribute $775 million, while the Jaguars will pitch in $625 million, according to A.G. Gancarski of Florida Politics.

"We're excited that the city council has approved this historic agreement that will keep the Jaguars in Jacksonville for decades to come, enhance the fan experience for NFL and non-NFL events, and provide a springboard for downtown growth starting with the completion of world-class riverfront parks," the team said in a statement.

The Jaguars will continue playing at EverBank Stadium through 2026, with the final season having a reduced maximum capacity of approximately 43,500 due to construction. The team will use a temporary venue to play their home games in 2027 before moving into the new stadium in 2028.

The Jaguars have made EverBank Stadium their home since entering the NFL in 1995.

NFL owners will vote on the future stadium proposal in October.