Delay In Financing Request Could Slow Marlins Ballpark Opening
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Marlins Will Not Break Ground On New Park
By End Of 2008 As Previously Expected |
Miami-Dade County (FL) Manager George Burgess said that the county in March or April will "go to the bond market" to seek financing for the Marlins' planned $515M ballpark, "only two years before the stadium is due to open in April 2011, when the Marlins' lease at Dolphin Stadium expires," according to Polansky & Fernandez of MIAMI TODAY. Burgess did not discuss how waiting until next year to go to the bond market may affect the April 2011 deadline, and said it is a "question more fairly asked of the team." Marlins Senior VP/Communications & Broadcasting P.J. Loyello: "We're still too early in the process to come up with a definitive timeline." Local officials last December, while announcing plans for the ballpark, said that they "expected to break ground by the end of 2008." Burgess noted that "in continuing to plan for the stadium, it will simply take until spring to get to the financing stage." Burgess predicted that county commissioners "should see construction, management, non-relocation assurance and parking agreements in November or December." Burgess indicated that "no major issues hold the documents back from commissioners," but it is "ironing out details of multiple lengthy agreements that's taking time." Burgess asserted that "today's shaky market has nothing to do with the county's plan to not step up to the financing plate for nearly half a year." While the ballpark plans "survived the suit" brought on by Miami auto dealer Norman Braman, Burgess said that the trial "ate up months." Burgess also noted that Miami city commissioners "must approve a major use special permit" for the ballpark (MIAMI TODAY, 10/22). Burgess: "By mid-2009 would be a target for groundbreaking. The Marlins previously said they needed to start construction this year to open in 2011" (MIAMI HERALD, 10/22).
MAJOR SUPPORT: MLB "remains hopeful the Marlins will be in a new stadium by 2011." MLB President & COO Bob DuPuy prior to last night's Phillies-Rays World Series Game One, said, "While everyone is concerned about the economy, I'm confident that the way they've structured this deal, we can go forward." DuPuy added, "The team doesn't have to go to market right away based on the way the deal is structured." DuPuy also noted that with a "projected construction period of 30 months," the Marlins "will have 'plenty of time' to be in a new" ballpark by the 2011 season (South Florida SUN-SENTINEL, 10/23).
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