SBD/June 11, 2014/Facilities

Dolphins' Stadium Deal Would Pay Team For Attracting Super Bowl, CFP, Other Events

Sun Life Stadium upgrades are expected to be finished by late summer of ‘16
Miami-Dade County would pay the Dolphins “millions of dollars for hosting major sporting events in exchange” for Owner Stephen Ross “delivering” a $350M renovation of Sun Life Stadium, according to Douglas Hanks of the MIAMI HERALD. Miami-Dade Mayor Carlos Gimenez' aides spent yesterday “rushing to get the paperwork finalized in time” for a commissioners meeting, and an agenda released in the evening “showed the Dolphins deal slated for a vote” early next week. Under the deal, Miami-Dade would “pay the Dolphins a maximum” of $5M a year based on a bonus schedule, which includes $4M for a Super Bowl or World Cup finals match, $3M for a FIFA World Cup semifinal or a CFP championship, $2M for a CFP semifinal and $750,000 for an int'l soccer match or "other sporting event which attract significant tourists to Miami-Dade County with at least 55,000 paid tickets distributed.” A source said that the Dolphins “plan to order construction materials in July and start work -- including a partial canopy --as quickly as possible.” Football games at Sun Life Stadium “wouldn’t be interrupted by construction, and work is expected to be finished” by late summer of ‘16. NFL owners last month gave “advanced approval of the agreement, and ruled it would qualify for the league’s ‘G4’ financing.” The Dolphins also “may qualify for a new state stadium subsidy” worth $3M a year. A “quick decision would meet Gimenez’s stated goal of having all stadium deals done before he and commissioners shift to the larger annual budget debate" (MIAMI HERALD, 6/11).
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