Khan is the owner of the NFL’s Jacksonville Jaguars.
By Raif Karerat
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Shad Khan, the Pakistani American billionaire owner of the NFL’s Jacksonville Jaguars, announced Tuesday that he expects the team to sign a long-term deal that would continue to see them play one game annually at Wembley Stadium in London.
Speaking about the impending 14-year commitment at a kickoff luncheon inside EverBank Stadium, Khan said he’s “optimistic, obviously, that we’ll have a renewal on (London) and it will go for a long time,” according to the Associated Press.
The Jaguars are currently entering the third year of a four-year deal that sees them play one game every year on the British isle.
“It’s been probably the number one element to stabilizing the Jacksonville Jaguars,” Khan said. “Hard to believe it’s over, the four-year deal now. But I think it’s a critical part of our franchise to be able to play games there, get the recognition, build the fan base and get sponsors.”
Overall, London accounts for 15 percent of the franchise’s local revenue, team president Mark Lamping said at a previous state of the franchise news conference.
The deal has been beneficial to the franchise because the NFL granted the team extended territorial rights in the U.K., and the additional ticket revenue from one game at the massive 90,000-seat Wembley Stadium has had a positive impact, according to ESPN.
The team’s local ticket revenue was down 18 percent in 2013 from the previous season, but adding in the London ticket revenue brought it back up to the same level. The Jaguars’ domestic sponsorship revenue rose 14 percent in 2013, but that number swelled to 29 percent when the London sponsorship money was added.
The Florida Times-Union reported that the current London venue is somewhat in question moving forward. The NFL has a 10-year deal to play a minimum of two games at Tottenham Hotspur’s new stadium, beginning in 2018. The soccer team’s stadium will be completed that year, but will have a smaller capacity than Wembley Stadium.