Jaguars to stay in Jacksonville

JACKSONVILLE, Fla., Nov. 3 (UPI) -- Jacksonville Jaguars owner Wayne Weaver has agreed to keep the NFL team in the Florida city as part of a deal with Jacksonville Mayor John Peyton.

The mayor agreed to give the Jaguars $8.6 million in rent reduction for its use of Alltel Stadium, reports the Florida Times-Union. In exchange, Weaver agreed to give the city a stadium free of the team's advertisers six times a year.

The city council must approve the agreement which settles a dispute over who controls electronic signs at the stadium.

Peyton said he reached his long-term goal of keeping the Jaguars in Jacksonville while also protecting the taxpayers, the report said.