The championship game of the U.S. National Football League is Sunday. While millions of fans are anticipating the Super Bowl contest between the Philadelphia Eagles and New England Patriots, Jacksonville, Florida is reaping millions of dollars as the host city.
With the Super Bowl comes tremendous international publicity as the world focuses on Jacksonville for a week of activities leading up to the widely-followed event. The ability of this one event to generate revenue for its host city and state is astounding.
According to NFL and state officials, Jacksonville and the surrounding area in northeastern Florida are expected to capture a large economic benefit from the Super Bowl. The money comes from spending by the large influx of out-of-state visitors numbering more than 100,000.
Jennifer MacPhee, the Director of Communications for the Jacksonville and the Beaches Convention and Visitors Bureau, says Jacksonville is feeling confident based on the experience at prior Super Bowls.
"There was a study done several years ago after the Super Bowl in San Diego [California] that shows that a city hosting the Super Bowl should expect to have over $360 million in economic impact following the game,” she said. “That is a pretty substantial amount that we are glad to have here."
The NFL and U.S. broadcast partners also earn a large share from the Super Bowl. But there are expenses. Among some of the interesting costs are the championship rings that go to the players on the winning team. The NFL pays for up to 150 rings at $5,000 per ring, plus adjustments for market increases in gold and diamonds. The league also pays for 150 pieces of jewelry for the losing team, which are not to cost more than one-half the price set for the winner's ring.
As for the Super Bowl trophy, the NFL pays the famed jeweler, Tiffany and Company of New York, $25,000 for the gleaming silver football and pedestal named after legendary coach Vince Lombardi.