Redskins Sell Naming Rights For Team HQ Sources: Isles In Talks For Arena At Belmont Park Facility Notes Islanders Potential Arena Near Citi Field? Chargers Dive Into Convention Center Possibilities MetLife Stadium Name To Stay Despite Changes Broncos Have No Stadium Naming Rights Offers Exactech Sees Value In Florida Arena Deal Facility Notes Cubs Reveal Plans For New Wrigley Suite Areas
MIAMI SPORTS AUTHORITY COUGHS UP $9M JUST IN CASE
Published June 12, 1996
The Miami Sports and Exhibition Authority may pay an additional $9M towards a new $165M Heat arena so that Dade County will not have to dip into its general fund, according to the MIAMI HERALD. The Authority will now pay $24M total, with the $9M held in reserve should Dade's other cash sources, such as tourism revenue, fall short. Even with extra $9M, Dade will pledge $7M from sales tax proceeds as backup. Metro Dade Commissioner Katy Sorenson, an arena opponent, said the plan "has gotten a little bit better," but added, "Let the Heat build its own arena. It can well afford to do so" (Don Finefrock, MIAMI HERALD, 6/11).