Shahid Khan Wants to Marry the NFL and EPL | Power Players
Summary
TLDRThe script explores the ambitious vision of Shahid Khan, owner of the Jacksonville Jaguars and Fulham Football Club, who aims to merge the best of American and English football to create a unified global football community. Khan invests in both teams and their infrastructure, leveraging real estate development to generate revenue beyond match days. His strategy involves cultivating international fan bases, enhancing the game day experience, and fostering a sustainable, community-focused business model that could potentially revolutionize football economics.
Takeaways
- 🏈 The NFL and EPL are both incredibly successful businesses, with the EPL having a massive global audience and the NFL having the most valuable teams in the world.
- 🌏 Shahid Khan, owner of the Jacksonville Jaguars and Fulham Football Club, is in a unique position to bridge the gap between American and European football, aiming to create a unified football ecosystem.
- 💰 Khan is investing heavily in both teams to expand their international reach, facing financial and competitive challenges along the way.
- 🏟️ Craven Cottage, Fulham's home ground, is undergoing renovations and developments to improve the matchday experience and generate year-round revenue.
- 🏠 The development around Craven Cottage includes a hotel, high-end restaurants, a health center, and a rooftop pool, aiming to serve the community and attract visitors.
- 📈 Khan's strategy involves leveraging real estate and commercial developments around sports venues to add value to the franchises, similar to what's seen with the Atlanta Braves and other NFL teams.
- 🤝 The NFL's revenue sharing model contrasts with the Premier League's system where performance affects revenue through relegation and promotion, making the EPL more volatile for owners.
- 📊 The NFL has a global ambition, playing games in London and Germany, and planning further international expansion, while the EPL seeks to grow its US market presence.
- 💪 Khan's background in business, starting with cold calling and building an auto parts empire, has equipped him with the skills to tackle challenges in sports ownership.
- 🌐 The potential for cross-pollination between football leagues is seen as a way to grow both entities, with the NFL and EPL aiming for significant revenue growth in the coming years.
- 🏗️ In Jacksonville, Khan is planning a 'stadium of the future' and downtown development, showing his commitment to reinvigorate the city center and create a new core for the community.
Q & A
What is the unique position that Shahid Khan holds in the football industry?
-Shahid Khan is the owner of the Jacksonville Jaguars in the NFL and Fulham Football Club in the English Premier League, allowing him to influence and potentially unite two major football empires.
What challenges does Shahid Khan face in his endeavor to unite the NFL and EPL?
-Shahid Khan faces financial and competitive challenges, as well as a learning curve, in his efforts to expand the international reach of both his teams and create a unified football ecosystem.
How has Shahid Khan been upgrading Fulham's home pitch at Craven Cottage?
-Shahid Khan has been mixing modern sports business with centuries of tradition by renovating the home pitch, adding a new grandstand, and creating a premium ecosystem around Craven Cottage, including a rooftop pool.
What is the significance of the Riverside Stand at Craven Cottage?
-The Riverside Stand is a renovated grandstand designed to add seating capacity to Fulham's matches and create a larger walkable, premium ecosystem around Craven Cottage, enhancing the fan experience.
How does Shahid Khan plan to leverage the development around Craven Cottage?
-Shahid Khan aims to generate revenue not just on match days but 365 days a year by creating a community-focused development with a hotel, high-end restaurants, a health center, and a rooftop pool to attract both residents and tourists.
What is the impact of relegation on a Premier League team's financial situation?
-Relegation can significantly reduce a team's ability to earn money in attendance, sponsorship deals, and broadcast revenue, affecting the team's valuation and competitiveness.
How does the NFL's revenue sharing model differ from the Premier League's?
-In the NFL, all 32 teams share revenue regardless of performance, ensuring financial stability. In contrast, the Premier League operates with the threat of relegation, where poor performance can lead to financial repercussions and reduced revenue opportunities.
What is Shahid Khan's vision for the future of the Jacksonville Jaguars and Fulham FC?
-Shahid Khan envisions a virtuous circle where cross-pollination between the NFL and the Premier League benefits both entities, leading to exponential financial growth and a truly international football community.
How does Shahid Khan's approach to stadium and neighborhood development reflect his business philosophy?
-Shahid Khan's approach involves creating self-sustaining, community-focused developments that serve both the local residents and the broader fan base, while also generating revenue on non-match days.
What is the potential impact of the World Cup coming to the US in 2026 on Shahid Khan's football ventures?
-The World Cup in the US in 2026 could provide a massive opportunity for Shahid Khan to expand his fan base and further internationalize both the Jacksonville Jaguars and Fulham FC.
How does Shahid Khan's strategy for Fulham FC differ from traditional English football club ownership?
-Shahid Khan's strategy focuses on commercial development and leveraging real estate opportunities around the stadium, as opposed to the more traditional focus on football performance and community pride.
Outlines
🏈 Uniting Football Empires: The Vision of Shahid Khan
This paragraph introduces the concept of merging the best practices of the National Football League (NFL) and the English Premier League (EPL) to create a unified football ecosystem. It highlights Shahid Khan, owner of the Jacksonville Jaguars and Fulham Football Club, who is in a unique position to bridge the gap between American and European football. Khan's ambition is to expand the international reach of both teams, investing heavily in their growth and facing financial and competitive challenges along the way.
🏟️ Craven Cottage: A Blend of Tradition and Innovation
The narrative shifts to Craven Cottage, Fulham's home ground, and its transformation under Khan's ownership. The focus is on the stadium's modernization while preserving its historical significance. The paragraph discusses the construction of the Riverside Stand, set to open in 2024, which aims to increase seating capacity and create a premium ecosystem around the stadium. It also mentions the rooftop pool, a unique feature in London, and the broader vision of integrating the stadium into the community, making it a year-round destination.
🌐 Global Ambitions and the NFL's International Strategy
This section delves into the NFL's global outreach, with the Jacksonville Jaguars playing back-to-back games in London, a first for an NFL team. It touches on the financial and fan base growth potential of playing overseas games and the importance of having a local presence in international markets. The paragraph also explores the idea of a more international NFL, with the potential for teams in various global locations, and Khan's role as a 'chief architect' in this expansion.
💼 The Business of Sports: Risks and Rewards
The focus here is on the business side of sports ownership, emphasizing the risks and rewards associated with large-scale stadium and neighborhood development. Khan discusses the importance of real estate and development in sports ownership, the potential for predictable value through commercial and residential properties, and the unique advantages of owning property in prime locations. The paragraph also contrasts the revenue-sharing model of the NFL with the relegation threat in the Premier League, highlighting the financial volatility and the need for adaptability in the football business.
🛠️ Building a Football Community: Cross-Pollination and Growth
The final paragraph discusses Khan's vision for creating an international football community that benefits both American football and soccer. It examines the potential for cross-pollination between the NFL and the Premier League, the financial goals of both leagues, and the philosophical differences in ownership approaches. The paragraph also addresses the challenges of expanding economic opportunities while preserving sport traditions, the impact of the proposed European Super League, and Khan's ongoing efforts to innovate within the Premier League through stadium and community development.
Mindmap
Keywords
💡National Football League (NFL)
💡English Premier League (EPL)
💡Shahid Khan
💡Jacksonville Jaguars
💡Fulham Football Club
💡Craven Cottage
💡Relegation
💡International Expansion
💡Revenue Sharing
💡Stadium Development
💡Cross-Pollination
Highlights
Football is at a crossroads with the NFL and EPL as major businesses.
EPL has a massive global audience, while NFL teams are the most valuable worldwide.
Shahid Khan, owner of Jacksonville Jaguars and Fulham FC, aims to unite American and English football.
Khan is investing in both teams to expand their international reach.
Fulham FC is London's oldest team and is undergoing significant rebuilding.
Jacksonville Jaguars played back-to-back London games, a first for an NFL team.
Khan's vision includes leveraging development around Craven Cottage for year-round revenue.
Craven Cottage's Riverside Stand renovation aims to enhance the stadium and its surroundings.
The development includes a unique outdoor rooftop pool in London.
Khan's strategy is to create a financial ecosystem around Fulham FC.
The project aims to serve the community and become a destination in London.
Khan sees real estate development as key to sports ownership and franchise value.
Fulham's relegation and promotion impact the club's financial stability and revenue generation.
Khan's experience with the NFL contrasts with the Premier League's economic model.
The NFL's global expansion and international games are part of its growth strategy.
Khan's background in business and auto parts has shaped his approach to sports ownership.
The 'Stadium of the future' project in Jacksonville aims to transform downtown with a $1.4 billion investment.
Khan's cross-pollination strategy seeks to grow both football leagues and create an international community.
The potential of the World Cup 2026 in the US presents an opportunity for further expansion.
Khan's developments aim to reinvigorate communities and create self-sustaining environments.
Transcripts
Football is at a crossroads
on both sides of the Atlantic.
The National Football League
and the English Premier League are undeniably
incredible businesses
and they sit alone atop their respective sports.
The EPL has attracted a massive global audience,
measured in the billions,
while the NFL has created the most valuable teams
of any league in the world.
So what if you took the best of each business
with the ambition of creating a new sort of, well,
unified football verse?
Meet Shahid Khan.
He's the owner of the Jacksonville Jaguars
and Fulham Football Club
and he stands in the unique position
to solve for both sides of the equation.
The thing about the sports owner,
the highs are the greatest highs
and the lows are the greatest lows.
Shad Khan is trying to unite
two dueling football empires,
along with their influence and audience,
pouring tons of money into both his Jaguars
and Fulham FC
to expand their international reach in parallel.
Bottom line, I mean, they're challenges.
So financial challenges
and obviously it's competitive challenge,
it's a learning curve.
Is Shahid Khan the one to crack the code
and bring these two disparate football empires together
for even greater gain?
This is "Power Players."
Well it's an overcast Monday evening here in London.
We're here at Craven Cottage.
That's where Fulham plays its home matches.
It's also a big day for Shahid Khan.
Shad is here for Fulham FC
to host their just down the road rival, Chelsea.
While Chelsea may be more of an international name,
Fulham is actually London's oldest team
and Shad has been steadily rebuilding it
from the ground up.
This is ridiculous.
I think innovation at its finest.
In the years since acquiring the team,
Shad has been working to upgrade its home pitch.
Mixing modern sports business with centuries of tradition.
I was probably here seven, eight years ago.
I mean, it's hard to even imagine what was there before.
At the same time that Fulham takes the pitch,
his other football team, the Jacksonville Jaguars,
are in the middle of back to back London games,
a first for an NFL team.
And while the players have made the trip to London,
so too have some of those most invested
in their performance on the field, his actual investors.
And we're rooted in Jacksonville
and yet, you know, we're committed
and invested in London, just like you are.
What's the score gonna be? Score's gonna be one-nil.
Oh! That's, wow.
You watch.
[Commentator] Here to Palmer.
Trying for two!
Calamity, might even be a no goal, doesn't matter.
Fulham would end up losing that night
to Chelsea two-nil.
Lucky for Shahid, though,
game day prognosticating isn't his focus.
The future of success of the franchise rests on his ability
to leverage an expanding development around Craven Cottage
and generate revenue not just on match days
but 365 days a year.
So tell me where we're sitting right now.
This is the literal cottage, right?
Craven Cottage, yes.
So the history, a lot of the mythology,
Anne Boleyn's hunting grounds.
The cottage has been built into the stadium since 1894.
It's located along the winding Thames,
next to a site filled riverfront with Fulham Palace,
the Putney Bridge,
and some of the most attractive real estate in the city.
Situate me in London here,
so we're obviously on the Thames.
[Shahid] That's where the boat race starts.
[Jason] The famous boat race. [Shadi] Yeah.
[Commentator] We are underway,
the 2024 lightweight men's boat race.
And as we approach that new grand stand at Craven Cottage,
Cambridge certainly with the lead.
[Jason] The Riverside Stand is the name
for the renovated grandstand
that's been under construction since 2019.
Set to finally open at the end of 2024,
it's designed to both add seating capacity
to Fulham's matches as well as add a larger walkable
and premium ecosystem around Craven Cottage.
And yes, there is a pool.
This will be the outdoor rooftop pool.
Very, very unique in London.
Obviously heated.
Now this isn't the first time Shad has built
a pool into a stadium.
But the play here isn't just
to improve the game day experience,
but to turn Fulham FC into the anchor
for a financial ecosystem that Shad is working to nourish.
What is this meant to do
for you from a business perspective?
Well, I think what it does is generate revenue
on non match days.
You see all these houses all around us
and average house price, probably four million pounds.
There is really no place for them to go.
The closest grocery store or restaurant would be a mile.
[Jason] Wow. [Shahid] Okay?
So for them to get to it, and here we are.
So it serves the community.
And with everything we're doing here,
this also is a destination.
If you come to London, you want to come here.
[Jason] Right. [Shahid] It should be, you know,
one of the 10 things you should do in London.
The idea is to redesign the neighborhood
and work to better connect Craven Cottage to it,
building a hotel, high-end restaurants, a health center,
and yes, even a rooftop pool to attract both residents
and tourists.
But no small amount of risk,
building something of this scale.
Of course there's risk.
[Jason] Yeah. [Shahid] Risk in everything.
One good thing is you didn't have
to worry about the property.
[Jason] Right. [Shahid] And it's unique
to have seven acres on the North Bank
of the Thames sitting between parks
and one of the richest areas of London.
[Jason] Right. [Shahid] And then,
when you build it, yes of course that's a risk.
But I think that it's rewarding.
Real estate and development has become a key element
and attraction to sports ownership.
While results on the pitch, court,
or field may vary, owning high performing commercial
and residential properties around a sports venue
can add massive predictable value to a franchise.
It reminds me of some
of the things we see back in the United States.
Even, you know, the Atlanta Braves in Atlanta.
Bringing the amenities around a stadium seems
to be something that people are thinking more about.
Exactly, except do you have people living there
[Shahid] 365, okay? [Jason] Right, right.
Or living there 24/7.
When you do that,
then you add a huge amount of connectivity.
Probably what I was thinking would be
like Real Madrid's stadium.
[Jason] Oh yeah. [Shahid] Okay?
The simple fact is that, you know,
London has a huge amount of vibrancy even today.
[Jason] Yeah. [Shahid] You look around,
you see all the cranes and everything that's going on
and it's truly a multicultural city,
has been for hundreds of years,
and will be so moving in the future.
So I mean, I'm really kind of bullish on London.
It is amazing to look at, especially to experience this,
and you look at some of the old pictures
that you have around the grounds,
'cause this, it's a really old club.
[Shahid] Yes. [Jason] You've been playing
[Jason] on this spot for a long time. [Shahid] Yeah, 1879.
So it's the oldest club in London.
Yeah, it's one of those things where you'd love
to be able to show somebody in 1879 what this would become,
[Jason] right? [Shahid] Yeah.
Shahid Khan bought Fulham FC
from Egyptian businessman Mohamed Al-Fayed in 2013
for $300 million.
Once I got here it was like, okay,
we're gonna have some overhead
and English football, you know,
how does it make sense?
English football is different.
So we wanted someone, a club that was family,
and really had the values
that were consistent with the NFL.
What are the immediate lessons that you learned
or that you observed?
Well, I think the immediate lessons obviously is
there are a huge amount of differences.
In the NFL, you're always gonna share revenue
among all 32 teams no matter what happens.
When the Jaguars finished the NFL season
with a 1-15 record in 2020,
they still got the same TV revenue share as everyone else
and then also got to draft the best college quarterback.
In the Premier League however,
there's the ever present threat of relegation.
If you don't perform, you get sent down,
carrying massive repercussions for valuation
and the ability to generate revenue.
For Fulham, with just five wins and 20 losses
in 2020-'21 season,
they were relegated at the premiership
and into the championship league.
That reduced their ability to earn money in attendance,
sponsorship deals, and broadcast revenue.
Fulham would then win the championship division
and get promoted back into the Premier League the next year,
creating a way more volatile asset for its ownership.
Relegation obviously is huge.
How it affects you, affects the fan base,
affects the revenue.
That's a big difference.
You have to be prepared for it.
In a lot of ways, it feels like the opposite
of how you describe the NFL where you get in
and you're like, "Okay, I can perform poorly on the field,
but I still get all this national money.
I'm still gonna be around."
Here, it is, you're on a knife's edge
it feels like, all the time.
And you have experienced that.
Yeah, absolutely.
We've been relegated, promoted three times.
[Jason] Yeah. [Shahid] You know, in 10 plus years.
But it's a very small club,
but the richest and most educated fan base,
English fan base.
So how do you leverage that, great geography
and great real estate.
Then you know, you can leverage some
of the sponsor money
and that would be an upside for the Jaguars and Fulham.
The NFL has gone global.
This past year, we played games in front
of amazing crowds in London and Germany
and we will be coming to more markets
on a global basis soon.
You may have caught some boos in there,
maybe directed at NFL Commissioner Roger Goodell,
or maybe from fans upset about losing more home games
to international markets.
But back in London, there's a lot of energy
from the 85,000 plus fans
who came out to Wembley Stadium,
including the mayor of London.
So this is the national soccer stadium.
Uh huh.
This is famous all around the world.
And what these guys do is they sell so many tickets,
they break records for the most tickets sold.
And are you gonna break a record today?
Yes, we're gonna break a record today.
Every time he comes, he breaks a record. It's remarkable.
Jaguars are in the midst of a road trip to London
to play back-to-back games overseas.
The atmosphere Shad has cultivated
is the definition of global ambition.
And to begin to fathom how Shad's pulled that off,
you have to consider his own origin story.
I was born in Pakistan and I played cricket,
which is like, you know, the game there
and then came to Illinois at 16.
Obviously, you have to assimilate,
and obviously football,
the first game I saw was the Bears.
[Commentator] This is Gale Sayers
getting away from one tackle, turning it on,
and going all the way for a touchdown.
I adopted the NFL as my sport.
When I finished school, how do you get a job?
You go door to door to door looking for a job.
The art of cold calling,
I mean it's kind of a lost art now.
That was very helpful, obviously, in the journey in the NFL.
As you track your career, there is this theme of,
you know, call it cold calling,
some might call it just pure moxie,
of being able to sort of seize an opportunity,
even when something presents itself
that is not great.
Well I think as a business person,
it was the art of survival.
For me, it was like, "Why would somebody wanna hire me?
I've gotta add value."
Shahid Khan certainly found his value
and pretty quickly.
In a few years he'd built out the auto parts giant,
Flex-N-Gate, to a multi-billion dollar
international business
and soon found himself ready to tackle his next leap
of faith into sports team ownership.
St. Louis Rams had come up for sale.
You do the work, two years of work, I believe.
So you're driving toward this
and then Kroenke swoops in
and snatches it right out from under you.
So I mean, it was,
obviously, it was surprising, disappointing,
but things turned out great for me.
[Shahid] Right. [Jason] Okay?
It's like football, you know,
that you're disappointed.
You're kind of knocked down
and you kind of get up and dust yourself
and say, "Okay, next play."
And the crazy part is, I had met Wayne Weaver
with the Jacksonville Jaguars way earlier.
I'll never forget I was in
Stuttgart selling auto parts when I heard from Wayne,
you know, in '11, okay.
You know, I think we're serious now
and I think we wanna get together.
He bought the team from owner Wayne Weaver in 2011
for $770 million.
That's a lot of money.
But notably, the Jaguars today are now valued at more
than $4 billion.
This ticket, you know,
to the Jaguars is gonna be the hottest ticket
in the business.
Probably the decade before,
for whatever reason, those fans had kind of been lost.
So how do you sell tickets? How do you sell sponsorships?
Because you gotta have the money,
the local revenue, to be competitive,
to spend, to invest in the stadium,
obviously do this full salary cap and so on.
So was it daunting?
I mean, what did it feel like
in the early days in terms of, you know,
as you said, now you've got it,
was this an experience that you had had at other points
in your business career?
What was the feel then?
Well, I've had that before
because how I grew the auto parts business,
most of the companies were distressed companies.
[Jason] Right. [Shahid] The first thing
I looked at was,
we weren't selling tickets,
our sponsorships, we can't sell 'em,
and the question was why?
And it was like, "Hey, we don't win football games.
That's why."
My mindset was that, okay,
we have to separate these.
We're not selling wins.
What we're selling is a great game day experience.
Shahid upgraded the Jaguars facilities
and made renovations to the team's stadium
as well as constructed the Daily's Place Amphitheater,
practiced facilities,
and cultivated real estate developments around the stadium.
It's a familiar playbook to what he's doing now in Fulham.
Jacksonville, Florida is not the same as London.
His next move was to begin to grow his fan base
outside the Sunshine State.
And one of the most dramatic things you do
to sort of bring it to where we're sitting now is
you're on the forefront of saying, you know,
we're gonna take this game overseas.
You know, if we're gonna play games,
I think we would rather
play someplace where it's really fertile ground
and we have a chance to really grow the fan base.
Yes, playing overseas, we would get a financial
and really getting the league to support us.
[Commentator] And good morning from across the pond,
Wembley Stadium is the venue.
The Falcons and the Jags get set to get together
Duval chants in the crowd.
You have a smaller resident fan base.
[Shahid] Yep. [Jason] So there's more upside
for you, I mean, I just wanna make sure I understand this,
more upside for you to come here,
to aggressively come here, than maybe
the New York Giants or the Chicago Bears, right?
Is that fair?
Yeah, absolutely. Because they have history.
[Jason] Yeah. [Shahid] Okay?
Northeast Florida,
two out of three people there already have allegiance
to other teams.
We gotta go where really they have no allegiance to a team
and it's gonna take a multi-year effort.
And we've had full-time, year round people
in London representing the Jacksonville Jaguars.
What does that evolution look like?
Does that look like a more international NFL in terms
of teams all over the world?
Does it look like an American based
what we have now where you have
not just London, but you have Germany
and you have France and you have Mexico.
'Cause you've been a chief architect of this.
Yeah, I mean, I'm focused really on London.
For us, you've gotta have a sharp focus
so you can produce results.
Rooting himself in London laid the foundation
to connect the dots across the football verse.
Now, Shad isn't just aiming to grow the value of both teams
and respective football leagues at large,
but to truly world build,
to create an international football community
that will raise all ships.
When you also think about the growth of both
football and American football,
you have been critical in the cross pollination
and we've talked about that a little bit.
[Jason] What happens next for that? [Shahid] Well,
I think what happens next is, you know,
this is a virtuous circle, okay?
So I think what happens next is, you know,
both entities do better
and then the cross pollination
gets them to the next level.
If both leagues can truly cross-pollinate,
the results could be of exponential financial magnitude.
Roger Goodell set a target of $25 billion in annual revenue
for the NFL by 2027.
And by 2022, the league already reached $20 billion
of that stated goal.
And international expansion is a key factor
for continued growth.
Conversely, the Premier League's revenue hit $7 billion
in 2022, with similar goals for expansion
and economic growth in the US market.
And yet, a significant gap remains for the Premier League
to leverage the same financial gains as the NFL.
And a large part of that has to do
with the differences in ownership group philosophies.
Talking to NFL owners, there's nothing
that they haven't tried to sell.
[Shahid] Absolutely. [Jason] Training Camp one,
and they've, you know, really set an interesting example.
It feels like NFL owners are
more commercially minded,
[Jason] is that fair to say? [Shahid] Absolutely. Yes, it is.
It is because there is, I would say, a false sense
of pride that, okay, this is football,
money shouldn't be involved.
Well, football players want to get paid too.
[Jason] Right. [Shahid] You've gotta have
a business that's sustainable.
The only way it's sustainable, it's gotta make money.
NFL owners are also . . .
[Shahid] Your partners. [Jason] Right.
Yeah. Day in and day out.
So NFL, you're trying to grow the pie, okay?
And we know everyone's gonna get a piece of the pie.
English football, it's different.
In the NFL, everyone shares success.
The EPL was created in the '90s out
of economic envy of the NFL.
But while the NFL has created a club of owners, as it were,
with a shared vision for mutual success,
the EPL doesn't yet share that same collective vision.
Obviously knowing NFL
and some of the other American owners who are
in the sport now, you can talk to them about it
because our interests are aligned.
Very much like the NFL,
you want the Premier League to grow
and everyone to benefit.
You know, relegation and promotion is sacred,
but still the teams
that are there all need to be competitive.
One of the big dilemmas that remain for Shad
and the rest of his internationally minded EPL owners is
how do you expand and seize new economic opportunities
while still preserving the traditions foundational
to the sport?
Fulham FC played three games in the US in 2023
and the World Cup coming to the US
in 2026 could provide another massive opportunity
for Shad to expand his base.
[Reporter] England's six biggest sides
want to join with three from Spain
and another three from Italy
to create their own breakaway football super league.
What is the motivation?
Well, you know what the motivation is, it's greed.
You're a disgrace. You don't care about the fans.
You're a joke and I'm devastated.
Change comes incrementally
and Shad's stadium development at Craven Cottage
is maybe the best example of what innovation
within the Premier League can look like,
creating a community around sports by bridging both the new
and the old and his cross-pollination
of clubs is already coming back home to Jacksonville.
Another move to develop the shipyard property downtown
and bring in luxury hotels,
condominiums, and an office complex.
The city is now prepared
to sell Jaguar's owner Shad Khan even more park land
for development in the project.
I want Jacksonville to live up to its potential
and it's huge.
We haven't scratched the surface.
Interesting to think about,
you know, how you think of this facility versus the facility
back in Jacksonville.
Are there shared experiences?
Are there shared learnings that you're able
to kind of implement back and forth?
Well, I mean,
this is part of the neighborhood going back,
you know, 150 plus years. Yeah.
Over there, what we're doing is,
[Shahid] there is no neighborhood. [Jason] Right.
So over there, we're building a neighborhood,
you know, from the highest stand,
like the Four Seasons residence, hotel,
all the way to more modestly priced apartments.
In that case, keep me honest here,
my sense is that, you know, downtown Jacksonville has been,
for lack of a better term, sort of somewhat neglected,
like the growth has happened in the suburbs and outward
[Jason] versus in the core, right? [Shahid] Absolutely correct.
Absolutely. As a matter of fact, the core has deteriorated.
[Jason] Yeah. [Shahid] And you need
to reinvigorate that.
[Jason] Yeah. [Shahid] And what we're doing
is developing a new core.
And central to that core is a new stadium.
It's being called the stadium of the future.
If the project that the Jacksonville Jaguars
unveiled today is actually completed,
then it will completely transform this part
of downtown Jacksonville
Shahid recently announced an intended deal
with the city of Jacksonville to build a quote,
"Stadium of the future," end quote,
that will cost an estimated $1.4 billion
and comes with a 30 year lease
to keep the Jags in North Florida.
You look at photographs of Jacksonville 100 ago,
I mean, St. Johns River was clogged with ships.
So getting recreational use
and boating is a lot about going from, you know,
I want to go here, go someplace else, relax,
[Shahid] have lunch, have a drink. [Jason] Right.
Enjoy the day.
You open up that whole experience.
[Shahid] has developed a uniquely
self-sustaining circular approach,
constantly taking something he learns in one place
and applying it to the other.
This, as one business, in many ways,
where are you in that journey
and what's next in terms of taking it forward?
How you relate to the community is very important.
I hate to say it, but we make a huge difference
in the community.
And people know that.
And in a way, expectations are maybe too much,
that any problem the city would have,
whether it's homelessness or whatever, they look to us,
that, what are you doing to help?
[Jason] Interesting. [Shahid] And same thing
in a lot of different ways, different scale,
you know, in English football,
that you wanna make a difference in the community.
You go back to 1879, the community grows up.
There are parks around us.
People want a place to go,
whether to relax or an amenity.
And being able to develop that, it's gonna, yeah,
put money in the squad,
but more importantly, serve the community.
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