PSA: Wayne Weaver press conference at noon

LXLX · November 2011

http://www.jaguars.com/

I imagine he'll address the JDR firing and the future of the coaching staff, the team getting sold and the details of that deal (minority vs. majority shares and what it means for the future of the team here in Jacksonville) and Gene Smith's three-year extension.

Just FYI!

clseale13 · November 2011

100% of the team was sold and the only promise to keep them in Jax was solidified by a handshake and a handshake only... Hmm

LXLX · November 2011

Well then.

LXLX · November 2011

Okay, I seriously hate the alarmist attitude like ZOMG the Jags are going to LA!!1!!11! and think the unfounded rumors about selling/moving just contribute to the passive attitude from couch fans and hesitation to buy tickets...

...but fuuk. Apparently this is for real. I was happy for approximately two hours while we thought JDR was just fired. Now fuuk. This new owner has zero reason to stay in Jacksonville.

If we renew our tickets, will we get reimbursed if the Jags move I wonder? Ugh, FML.

duncanpowers · November 2011

I feel so ill listening to Weaver say that he's 'sure' the new owner will stay in Jacksonville and will buy a home here. Really? You're sure? There is absolutely ZERO reason why he should keep the team here, especially with LA waving dollars in his face. ZERO. It doesn't make business sense, and he is after all a businessman.

clseale13 · November 2011

Not that this will calm any fears, but apparently Jax isn't the only team that's rumored to go to LA. I was just talking to my friend who lives in Huntington Beach and he said they're actually expecting the Chargers to go to LA. Who knows.

luckyinlove11902 · November 2011

I really hope that he proves people wrong and keeps the team in Jax. The Jags may not be my #1 team but I definitely don't want to see them leave. If they don't leave this could all be a really positive change for the team. New owner, new coach, fresh start. Might actually give the Jags a fighting chance!

JenCrabbe13 · November 2011

I love how they throw in that he is buying a house in Jax, as if that will bind him to keep the team here. We all know that the extreme wealthy people just have one house that they are tied to. Hmm It looks like all of the other owners have to agree on the new guy buying the team. The didn't agree last year, so what makes you think that they will now?

clseale13 · November 2011

New Jacksonville Jaguars owner Shahid Khan has released a statement about his purchase of the franchise:
Owning a team in the National Football League has long been my personal and professional goal. Becoming the owner of the Jacksonville Jaguars would be a dream come true for me and my family but, above all, would be a privilege. To that end, I would like to thank Commissioner Roger Goodell and m...embers of his team for their counsel and guidance throughout my efforts over the past several years. I am now looking forward to the review process in accordance with league policy. If the proposed transaction is approved in the weeks ahead, I will responsibly and enthusiastically serve the NFL, the Jacksonville Jaguars and their great fans, and I will be fully committed to delivering Jacksonville its first Super Bowl championship. This is a franchise with tons of potential, playing in a community that is passionate about football and loves to win. I can't think of a better place to be. Lets just hope the whole city gets behind it. That's the only way we're keeping them here.

LXLX · November 2011

NOW GO BUY TICKETS.

LXLX · November 2011

People (on FB at least) keep insisting that the Jags have to stay because the lease with the stadium runs through 2029. This is true, but I googled it and according to ESPN:

While Weaver is confident Khan will keep the team in Jacksonville, there is nothing written in the deal which obligates Khan to do that. Weaver's confidence stems from assurances Khan has made to him personally and the fact that the Jaguars' lease to play at EverBank Field runs through the 2029 season. If the Jaguars wanted to leave before the end of the deal, the lease requires the team to prove they had lost money in three consecutive seasons or to convince a local judge that the city was failing to properly maintain the stadium.

http://espn.go.com/los-angeles/nfl/story/_/id/7294811/jacksonville-jaguars-owner-rebuffed-sales-pitch-los-angeles-groups

Haven't they been losing money since 2008? I'm still googling, but I remember hearing that. Anyway, my point is that I don't buy this argument.

JenCrabbe13 · November 2011

I heard last night that if he did move the team that he would have to pay a penalty of about 80 million dollars. But I guess if you have several million to buy a team, $80 million seems like a drop in the bucket.

duncanpowers · November 2011

All he would have to do is find a city willing to make the 80 million payoff part of the incentive, which I'm sure any serious city would be willing to do.

LXLX · November 2011

duncanpowers:
All he would have to do is find a city willing to make the 80 million payoff part of the incentive, which I'm sure any serious city would be willing to do.

Not so fast, according to this article.

http://sports.yahoo.com/nfl/news?slug=jc-cole_jacksonville_jaguars_new_owner_los_angeles_112911

?The team would have to show that because of lack of attendance it?s losing money for three straight years and that?s probably a difficult thing for an NFL team to do,? Delaney said. ?That?s there for if the city doesn?t support the team. If we don?t, we shouldn?t stick the team with a long-term lease. But if we support it, they can?t just pretend they?re losing and expect to get out.?

Marc Ganis, the president of SportsCorp, backed that sentiment. Ganis has reviewed the 100-page lease between the team and the city and said it?s ?one of the more difficult leases you?ll see for a team to get out of.?

That threshold, more than the actual money that?s owed to pay off the lease, stands in the way of a possible quick move of the team. In the mid-1990s, Delaney says the city took out approximately $115 million in bonds for improvements on what is now EverBank Field. Delaney guessed the rough amount of the payoff on the bonds would be ?in the area of $60 million.? For a team planning to move, that?s not significant.

?The city you?re moving to would pay that off very quickly if that?s all you?re talking about,? Ganis said.

But fighting through the first threshold could be difficult, if not far more expensive. Under the growing television revenue the NFL receives, teams have never been more profitable. The average value of an NFL team has climbed to approximately $1 billion. In August, Jacksonville was ranked by Forbes as the NFL?s least valuable team at $725 million.

?Even if the team declared that it was losing money, the issue would be litigated and all the books from the team would be subpoenaed,? Delaney said. Litigation could take a year or two, making the quickest the team could leave more than four years away. In addition, the NFL is generally averse to having team financial records made public.

?Could you find a way out of the lease? Yes, but it?s going to take some very serious work and there?s going to be a lot of uncertainty along the way,? Delaney said. ?People in that situation don?t like uncertainty.?

duncanpowers · November 2011

Interesting!

PSA: Wayne Weaver press conference at noon

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