Jacksonville Jaguars, of American football’s NFL, have unveiled their renovation plans for home stadium TIAA Bank Field with a cache of rendered images of its proposed multibillion-dollar project.

The concept designs, by architects HOK, show a revamped and modernized 62,000-seat stadium featuring a shaded canopy to reduce the heat factor by more than 70%, a main concourse area four times the width of the current one, and lookout decks offering views of the city.

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The project will also include major improvements around the stadium, including a University of Florida satellite campus.

A video released by the Jaguars' social media team showed the stadium expanding its capacity to 71,500 and referenced the potential to host music festivals, concerts, international soccer matches and tournaments, and the NFL draft.

In addition to HOK, the project team includes Impact Development and Management as the owner’s representative, with AECOM Hunt and Barton Malow serving in the role of preconstruction manager.

Jaguar’s owner Shad Khan said: “We have reached the end of this important and initial phase of this project – the design of the stadium we envision will the home of the Jacksonville Jaguars and serve our entire community for generations to come.”

The entire cost of the project, including the development around the stadium, is estimated to reach $2 billion, according to ESPN, with the stadium renovations costing between $1.3 billion and $1.4 billion.

Constructing an entirely new stadium, either on the current site or elsewhere in the Jacksonville area, would cost an additional $1 billion.

Jaguar’s president Mark Lamping told ESPN that a memorandum of understanding (MOU) between the city and Khan would see the pair split the cost of the entire project, including development around the stadium, 50/50. The stadium is currently owned by the Jacksonville City Council.

He said: “What we’ve discussed with the city and what’s contained in this MOU is we get to 50/50, but more of their [the city’s] 50% is going to have to go into the stadium because that’s what the league’s going to look at and more of Shad’s 50 is going to have to go into the development around the stadium.”

The Jaguar’s current lease at TIAA Bank Field expires after the 2029 season and a new lease needs to be approved by the NFL and at least 75% of the league’s owners.

Jacksonville is the only NFL franchise that has not built a new stadium or undergone substantial renovations since the team entered the league in 1995.

The stadium was originally named Jacksonville Municipal Stadium before being renamed EverBank Field in 2020 through a title sponsorship deal with US bank holding company EverBank Financial.

It was then renamed TIAA Bank Field in 2018 to reflect EverBank’s rebrand to TIAA Bank.

The Jaguars have played a ‘home’ game’ in London, UK every season since 2013, except for in 2020 due to the pandemic as part of the NFL’s International Series that was renewed until 2024 in March.