Florida and Georgia will continue to play their annual football game in Jacksonville, Fla., for at least five more years, the Jacksonville Business Journal reported.
Jacksonville mayor Lenny Curry announced Wednesday that the city signed a five-year contract extension to host the game between the Southeastern Conference powers, with the option to start negotiating two years into the contract.
The existing contract expires after the 2016 football season.
The Georgia-Florida game has officially been played in Jacksonville since 1933, and Curry said the economic impact of the game on Jacksonville is estimated at $35 million.
The University of Florida and the University of Georgia will each receive $250,000 based on the terms of the extension. Previously, the schools received a portion of ticket sales.
Curry said the improvements to EverBank Field, which is the site of the Georgia-Florida game as well as home of the NFL's Jacksonville Jaguars, provided incentive for the schools to agree to an extension.
Curry was seeking a 10-year extension for Jacksonville to host the Florida-Georgia game, but he is confident the game will remain in Jacksonville.