Jacksonville City Council President Ron Salem announced Wednesday the Jaguars and Mayor Donna Deegan have reached a deal for renovations of the stadium, Hanna Holthaus and David Bauerlein of the Florida Times-Union report.

"The mayor reached out to me late yesterday afternoon to inform me that the executive branch and the Jaguars have reached an agreement on the stadium renovation," Salem said at the beginning of a joint meeting with the Duval County School Board Wednesday morning.

The mayor’s office and consultants have led the city’s negotiations since August and will present the proposed agreement to council at the next regular meeting on Tuesday.

“We have reached an agreement on the framework of a deal," Deegan said in a statement Wednesday. "The negotiating team is currently putting the final details on paper, and we will release that information as soon as it is available.”

Salem did not comment on what share the city could carry of the potential $1.4 billion renovation. 

"I do not know the specifics of this particular deal but look forward to engaging the council during the month of June as we move forward to review it," Salem said.

City Council will have to approve the deal over the next few months. The Jaguars, according to previous Times-Union reporting, hope to have a deal finalized by early summer in order to take it to the NFL owners meeting in October. 

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