The name of Alltel Stadium could be changing soon. Alltel's naming rights to the stadium will expire at the end of February 2007, leaving the city with the opportunity to sell the naming rights.
It was hard for people to get used to the name Alltel Stadium when it came to be 10 years ago but soon it could also be hard for some to let it go.
The current deal with Alltel is considered one of the worst in the National Football League. Alltel is paying $620,000 a year.
Some big cash deals with other stadiums have been worked out in markets similar to Jacksonville. In 2003, the Baltimore Ravens landed a $75 million contract for 15 years, and the Indianapolis Colts signed a $120 million deal for 20 years.
With a new deal, the name could change to a different sponsor. In getting another sponsor, the city hopes to cap between $5 million and $6 million a year, which would be split 50/50 with the Jaguars.
"We are working real hard with the Jaguars to accomplish that," said the Mayor's Chief of Staff Steve Diebenow.
However, officials admitted an agreement might not be reached before the Feb. 28 deadline. If that happens, the Jaguars Chief Financial officer Bill Prescott said, "We could see the stadium revert to its old name -- Jacksonville Municipal Stadium."
If that happens, money could stop flowing for a bit. The city said that would be OK, as long as a deal is eventually worked out.
"If it takes a little longer to get a high-quality partner that's OK. We would rather wait for the right partner to work with us and the Jaguars, and to form a standing relationship that is going to last for a while, instead of getting rushed into something that we don't want to deal with later," Diebenow said.
The Jaguars and the city have yet to come up with a new deal. The Jaguars and the city both said they hope to make some deal soon.
"Well actually, we have great confidence that we will get a really good partner together with the Jaguars," Diebenow said.
Nobody would comment on which companies are in the running for the stadium naming rights.
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