Jaguars Owner Wayne Weaver Discusses Financial State Of Team
In a Q&A with Vito Stellino of the FLORIDA TIMES-UNION, Jaguars Owner Wayne Weaver
said despite reducing capacity of Alltel Stadium this season by about 10,000 seats,
it still “appears we will have a few blackouts.” Weaver, when asked why he would
not move the team to L.A. where its “value would probably double,” said, “Because
of my commitment to make it work in Jacksonville. I said that it is not my intention
to move the team. Having said that, no business can lose money year after year
after year and sustain itself.” Weaver added, “It’s been reported that we made
[$78M from ‘95-99], but people don’t understand a profit-and-loss statement. Below
the operating profit line are other costs. We spent $56[M] in cash over cap (money
spent above the salary cap that counts against the cap in future years) from [that
period] and debt service. It made it look like we put $78[M] in our pocket. We
weren’t making a lot of money.” Weaver, on whether he will sell the team in a
few years: “That’s not my plan. The plan is for the team to stay in the family”
(FLORIDA TIMES-UNION, 7/27). Meanwhile, in Daytona Beach, Randy Rorrer
notes the Jaguars are offering a new plan “featuring half-season ticket deals
with different sets of games on each of two plans” (Daytona Beach NEWS-JOURNAL,
7/27).
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Jaguars Several Thousand Tickets Shy Of Sellouts
For Upcoming Season
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