'Never doubt Jacksonville. That was my message in the summer to Mayor [Donna] Deegan, the Jacksonville City Council and our residents, and I am humbled and grateful that my fellow NFL team owners agree,' Jaguars owner Shad Khan said in a statement. 'The venue will be world-class by every definition. It will impressively serve the Jaguars and their fans, attract major sports and entertainment events to our region, and serve as an economic catalyst for decades to come.'
'I send my deepest appreciation to all who believed, and especially to everyone who did the hard work to make this happen. We have much more hard work ahead, but a lot to be proud of today. Celebrate!''
The Jaguars and the city have agreed to each contribute $625 million to the renovation, but the city also has agreed to pay $150 million over the next two seasons on maintenance and repairs to prepare the stadium for construction. That means the city will be responsible for 55% of the total cost.
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