Florida-georgia Term Sheet, January 18, 2016

8/20/2019 Florida-georgia Term Sheet, January 18, 2016

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coj.net City of Jacksonville | Sports & Entertainment Office

904.630.3600 117 W. Duval Street, Suite 280 | Jacksonville, FL 32202

FLORIDA-GEORGIA GAME TERM SHEET

This TERM SHEET is made on January 18, 2016 by and between the UNIVERSITY

OF GEORGIA ATHLETIC ASSOCIATION, INC. the UNIVERSITY ATHLETICASSOCIATION, INC., and the CITY OF JACKSONVILLE (“COJ”) for the City of

Jacksonville to annually host the University of Florida versus the University of

Georgia in a neutral site football game to be played at EverBank Field.

Term

This Agreement shall be effective January 18, 2016 prior to the conclusion

of the Right of First Negotiation window in the Amended and Restated

Agreement.

A long-form contract will be drafted by the COJ to be executed by all parties

by no later than March 1, 2016.

The term for the extension will commence February 15, 2017 with a

contract for a total of seven (7) Games beginning in 2017 through the 2023

Game. The contract will expire February 15, 2024.

Deal Points

Terms and conditions included in the current 2010-2016 Agreement arehereby continued to be offered:

o Schools to receive 100% of ticket revenues including suite ticket

sales.

o The schools have no financial obligation to the COJ.

o COJ will provide the stadium at no cost/expense to the schools.

o COJ to purchase 1,000 tickets for the game in mutually agreed to

locations. If the COJ requires any additional tickets for purchase for

the game, COJ and schools will mutually agree to inventory andlocation as available.

o

Separate MOU with a 90/10% sponsorship split.

o

Schools to receive two (2) suites per university for the Game.

o Jacksonville Jaguars (“JJL”) has the exclusive right to sell the luxury

suites at EverBank Field.


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Proposed New Deal Points

$250,000 per team annual guarantee payment during the Term of the

Agreement effective with the 2017 game. Payment to be made to each

university upon the final stadium settlement.

In consideration of a seven (7) year contract extension, COJ agrees to

provide a guarantee payment of $125,000 per team for the 2016 game.

Payment to be made to each university upon the final stadium settlement.

$60,000 per team travel stipend effective with the 2017 game.

COJ will provide the UNIVERSITY OF GEORGIA with air travel cost not to

exceed $350,000.

Effective with the 2016 game, COJ to create a customized seating solution if

any club seats are removed for stadium Club seat renovations. Any stadium

renovations to the club seats will be reviewed and approved by the schools.

The universities will not incur any costs for the temporary seating solutions

in the club areas at EverBank Field or the North End Zone and South End

Zone temporary seating needs for the schools.

A mutually agreed to number of tickets to a pregame concert event or

similar pregame event to be determined by the COJ during the EventWeekend.

Each school to receive the rights to use a Luxury Suite with sixteen (16)

tickets at the Jacksonville Veterans Memorial Arena (JVMA) up to four (4)

times annually during the term of the Agreement. Suite availability is on a

first-come, first-served basis. SMG/COJ shall use its best efforts to secure a

suite when requested by each school.

Effective with the 2017 game, COJ will use its best efforts to create

permanent signage placement at EverBank Field. Two (2) permanentsignage positions in total at the stadium for Georgia-Florida / Florida-

Georgia. COJ reserves the right to design and selection location at EverBank

Field.


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IN WITNESS WHEREOF, the undersigned have caused this Agreement to be duly

executed as of the date executed below.

UNIVERSITY OF GEORGIA ATHLETIC ASSOCIATION, INC.

By: _________________________

Mr. Greg McGarity, Director of Athletics

Date: _______________________

UNIVERSITY ATHLETIC ASSOCIATION, INC.

By: _________________________

Mr. Jeremy Foley, Athletics Director

Date: _______________________

CITY OF JACKSONVILLE

By: _________________________

Mr. Sam Mousa, Chief Administrative Officer

Date: _______________________

Upon execution of this agreed to TERM SHEET between UNIVERSITY OF GEORGIA

ATHLETIC ASSOCIATION, INC. the UNIVERSITY ATHLETIC ASSOCIATION, INC., and

the CITY OF JACKSONVILLE (“COJ”), a long-form contract will be drafted by the

City of Jacksonville Office of General Counsel. The Contract will ultimately require

City of Jacksonville City Council approval.

Documents

Florida-georgia Term Sheet, January 18, 2016