Jaguars president talks what Wembley sale collapse means for franchise, Jacksonville

On Thursday — Jacksonville Jaguars President Mark Lamping explained owner Shad Khan's withdrawal of a bid to purchase Wembley Stadium in London.

Action News Jax learned the decision may still have an impact on the team’s presence here in Jacksonville.

While Lamping said the Jaguars want to make sure London is still a key contributor to what’s going on here, the organization's main focus right now is finding new opportunities to make sure the franchise remains financially sustainable.

Action News Jax Courtney Cole attended the press conference at TIAA Bank Field, where Lamping said the decision to drop the bid is disappointing, but definitely something the Jaguars can overcome.

Khan released a statement Wednesday announcing his decision to withdraw from the purchase of Wembley Stadium.

"It just seemed that the seller of the stadium didn't have all their ducks in a row. It was a very difficult project for everyone to begin with,” said Lamping.

But the idea of trying this idea again later isn’t completely out of the question.

“Once the F.A. (Football Association) gets to the point where they're committed to the sale...then there's no reason we wouldn't re-engage,” said Lamping.

He said Wembley was never the end-all-be-all, just one of the ways to support the financial stability of the franchise.

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"Now we need to pursue the other ones with even more urgency and continue to look for new opportunities,” Lamping said.

Those other opportunities include Lot J at the sports complex—which is set to be the site of a large-scale entertainment district -- and the convention center and hotel in the Shipyards.

“I'm confident that we're committed to getting the project done. I'm confident  that Shad's financial support is there. I'm confident that we're willing to take some risk because of the potential upside,” Lamping said to a room full of cameras and recorders.

"Our hope is that we'd have  a deal with the city by the end of the year. That's not that long away so that does suggest that we've made progress,” said Lamping.

Lamping said they're focusing more on  Lot J first, because The Shipyards development is contingent upon the elevated lanes of the Hart Expressway coming down.

“I also know 100 percent it has to be a partnership with the City of Jacksonville, and we've had very positive conversations with the city. We still have a ways to go.”

Cox Media Group