JACKSONVILLE, Fla. – Jacksonville’s new football stadium has been signed off on by the NFL and the shovels hit the ground early next year.

The stadium deal, approved unanimously on Tuesday afternoon by NFL owners, is expected to benefit more than just the Jaguars. Construction on the $1.4 billion stadium is set to begin after the Jaguars complete their 2024 season. Mayor Donna Deegan, Jaguars owner Shad Khan and team president Mark Lamping have all said that they expect the Stadium of the Future to have a robust impact on more than just NFL football.

One of the biggest attractions that it aims to keep here — the Florida-Georgia game. The current contract with the city runs through the 2025 season. The schools exercised their two-year option last year.

Lamping said those involved in the stadium process made it clear to both schools that a new stadium would benefit the Gators and Bulldogs long term. The schools benefit financially from the neutral site game more than they would a home-and-home setup. According to numerous published media reports, each school brings home between $4 to $5 million annually from the game.

“One of the things we did up front is we talked to important stakeholders very early on in design process,” Lamping said. “We had multiple meetings with the athletic directors, both at University of Georgia and University of Florida, because one to make sure that this stadium served their needs, to ensure that this great annual tradition of the Florida Georgia game stays in Jacksonville.

“And I think this development puts us in a position to be much stronger in our confidence that those universities will choose to stay in Jacksonville, because economically, it is significantly better for them under the new stadium than the old stadium.”

The Florida-Georgia rivalry tradition has been played in Jacksonville each October since 1933, except during the 1994 and 1995 seasons while then-TIAA Bank Field was under construction. The game this year is Nov. 2.

“I think that’s really one of the key purposes of the stadium, how the venue is designed,” Khan said. “I think it’s going to be among the finest in the world, and, you know, and that’s what we expect from it, to be able to hold world-class events, contribute to the city, you know, from prestige, but more importantly, from revenue, and really help the community grow. It’s a public venue, and the key purpose is to serve the community. So, I mean, we have high expectations, the design, the function, all of that, is to make it among the best in the world.”