Economy another hurdle for Jags

[thelakelander]

By Vito Stellino,
The Times-Union

The sagging national economy has provided one more obstacle to the Jaguars' bid to secure a naming-rights deal for Jacksonville Municipal Stadium.  The team has sought a new stadium sponsor since Feb. 1, 2007, when the contract with telecommunications company Alltel expired and wasn't renewed.

Though the team isn't close to a new deal, the Jaguars hope to have one in place for the start of the 2008 season, senior vice president/chief financial officer Bill Prescott said.

"With the market down quite a bit [this year] and with credit getting tougher, it's not making it any easier [to sell a naming-rights deal]," Prescott said. "We've always got plenty of irons in the fire, but it's going to take a while to get the right fit. It hasn't happened yet, but I'm optimistic something will happen before the start of the season."

Alltel paid $620,000 per year for the stadium naming rights, but this time, the Jaguars are seeking about $5 million annually, which they would split with the city.

A naming-rights deal would help the bottom line because the Jaguars are struggling to break even as a small-market team in the NFL.

Prescott said the team came close to breaking even in 2006, but "at the end of the year, had a slight loss.'' He expects similar results for the 2007 season once the books are closed. The Jaguars were 28th in league revenue last year.

full article: http://cgi.jacksonville.com/cgi-bin/printit.cgi?story=ZZNOSTORYZZ