With a unanimous vote on Tuesday, NFL owners voted to approve the Jacksonville Jaguars and the City of Jacksonville’s proposed $1.4 billion stadium renovation.

The deal will keep the Jags in Duval County for the next 30 years.

Financially, Jacksonville taxpayers will front $775 million while owner Shad Khan will also pay $625 towards the team’s “stadium of the future.” Khan will pay any remaining balance that goes over the proposed cost.

The bones of the existing Everbank Stadium will be built on for the new stadium, as a canopy for shade will be placed atop the existing structure. The stadium will seat 63,000 fans for NFL games with the ability to expand to over 71,000 for the annual Florida-Georgia college football series and in hopes the expanded seating attracts larger sporting and music events.

Construction on the new stadium is scheduled to begin in early 2025 with the expectation to play games in the new stadium by 2028. Home games will be played in 2025 to a crowd of over 60,000 while during the 2026 seasons, the Jags will continue to play at home in front of a reduced crowd of around 43,000 fans.

The team will play home games outside of Jacksonville for the 2027 season, with venues like Orlando’s Camping World Stadium and Ben Hill Griffin Stadium at the University of Florida as possible “home” locations.

The approval of the stadium also places in effect a non-relocation agreement, keeping the Jaguars in town without question. In terms of international competition, the Jaguars are limited to one home game annually in London unless ordered by the NFL to play in more international games once every four seasons which would apply only every other season during the renovation.

Early estimates of the renovated stadium and surrounding area could generate over $26 billion for the city.

“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,” 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. It also means a new and vibrant Downtown Jacksonville that once may have seemed unimaginable will indeed come to life.”

Go Jaguars.