After more than three years without a commercial name -- and the associated revenue -- Channel 4 has learned that the Jaguars are finalizing an agreement making EverBank the naming sponsor of Jacksonville Municipal Stadium.
Alltell's contract expired at the end of the 2006 season and the Jaguars and the city of Jacksonville have been looking for a new naming sponsor ever since.
WJXT learned Monday afternoon that Jacksonville-based EverBank has agreed in principal to a multi-million dollar deal and an announcement will be scheduled soon. Channel 4 is still working to learn the terms of the potential agreement -- which is a revenue source for both the team and the city.
The city's lease with the team calls for the Jaguars to keep 75 percent of any revenue from the sale of naming rights to the stadium, with the city receiving 25 percent.
EverBank is owned by a group of investors that purchased Alliance Mortgage Company and Marine National Bank and opened the institutions under the new name in January 2000.
As of May 30, 2010, EverBank had approximately $11.5 billion in total assets.
Channel 4's Scott Johnson was out at Jacksonville Beach Monday night, for the annual Jaguars Booster BBQ Blast, talking to fans about the change.
Most fans were excited about getting a new name. Fan, Kim Craft, said she thinks it will prevent the Jaguars from leaving Jacksonville.
The Jaguars still need to sell about 10 thousand tickets to prevent blackouts in the 2010 season.