[luffyplayaz]

Jaguars | City could Cut Rent
Fri, 1 Jul 2005 13:37:39 -0700

Mary Kelli Palka, of the Florida Times-Union, reports the city of Jacksonville could cut the Jacksonville Jaguars rent at Alltel Stadium to help end a dispute over who owns control of electronic advertising signs at the stadium. Mayor John Peyton said he won't agree to such a deal unless the city is able to make up all or most of the loss with increased revenue or decreased costs related to operating the city-owned stadium. The two sides are still trying to figure out how much money the city should get if a company buys stadium naming rights after Alltel's 10-year agreement ends in 2007. Peyton and Jaguars owner Wayne Weaver met late into the evening Thursday, June 30, to continue negotiations. The city currently gets about $288,000 a year from the Alltel naming rights deal. City consultant and lead negotiator Dean Bonham has discussed the city getting as much as $1.85 million a year under a new deal, which would help increase city revenue, he said.