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Report: Ross to fund stadium rennovations himself!

Discussion in 'Miami Dolphins Forum' started by DolfanTom, Mar 10, 2014.

  1. Alex44

    Alex44 Boshosaurus Rex

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    Most people don't realize schools are overly funded. We spend more on school than any other nation with some of the worst results per dollar. Most of the money goes through money hungry hands first and rarely ever sees the school anyway.
     
  2. VanDolPhan

    VanDolPhan Club member Club Member

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  3. ASOT

    ASOT New Member

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    If this is true, it's the 1st part in an exit strategy from South Florida. Read it folks....he'll no longer own the stadium, the team will be free to leave.
     
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  4. ASOT

    ASOT New Member

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    Oh it does if he's moving the team to LA .....that would be worth $ 1 billion at least.
     
  5. FinNasty

    FinNasty Alabama don’t want this... Staff Member Club Member

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    Don't know if there's a point telling you this... but the Dolphins aren't going anywhere man.
     
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  6. Disgustipate

    Disgustipate Season Ticket Holder Club Member

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    SICK, Da 'Fins and FinNasty like this.
  7. Desides

    Desides Well-Known Member

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    Stadium renovations by themselves, no. But Ross has now given the franchise flexibility to go forward and build a new stadium, since they aren't tied down to SLS any longer. Miami owns it, not the Dolphins. It's Miami's problem now. The Dolphins could fund a new stadium tomorrow and Miami would get stuck with an empty shell.

    A real estate mogul just made a real estate move.
     
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  8. ASOT

    ASOT New Member

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    And I'm sure everyone thought the Dodgers would never leave Brooklyn, but they did. Same with the Cleveland Browns, the New York (baseball) Giants, etc. If it isn't Ross that moves them, it could be the next owner.

    I'm not saying its definite, but if you want to bury your head, then fine.
     
  9. schmolioot

    schmolioot Season Ticket Holder Club Member

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    Tell that to my wife who gets paid crap despite a Masters
     
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  10. schmolioot

    schmolioot Season Ticket Holder Club Member

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    Doing this deal will make it far more difficult to move.

    Ross has no lease. He could abandon SunLife tomorrow if he wanted to.

    This deal will require a lease.
     
  11. ASOT

    ASOT New Member

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  12. Bumrush

    Bumrush Stable Genius Club Member

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    WTF.

    Are you suggesting that Ross is going to laser beam the stadium to Los Angeles? Think before you post. This isn't Star Trek.

    Please explain how Ross spending 350 million dollars of his own cash to improve the stadium is going to be used to make money by moving the team to Los Angeles.

    Also, please take a minute to understand how a long term lease works.
     
  13. Bumrush

    Bumrush Stable Genius Club Member

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    This makes no sense.
    If a real estate mogul planned on building a new stadium he wouldn't give away hundreds of acres in what many consider one of the hottest global real estate markets. I know it's Miami Gardens but developers are buying up vacant land throughout Dade and Broward and can figure out something substantial there.
    He would sell the stadium or just the dirt and then build his stadium where ever he wanted to. Why would he relinquish land worth hundreds of millions?

    Also, how are they tied down to Sun Life?
     
  14. Desides

    Desides Well-Known Member

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    It makes no sense to you because you read my post backwards.

    1. Never said Ross was planning to build a new stadium. I said the franchise now has the flexibility to do so, because they are no longer invested financially in the current stadium.

    2. Ross increases the value of the property with the renovations plus no taxes.

    3. The Dolphins WERE tied down to SLS by virtue of owning it. Now they don't own it. This opens the door for a new stadium down the road.
     
  15. Bumrush

    Bumrush Stable Genius Club Member

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    The value of the property is related to the use. If the Dolphins leave the stadium will be as useful as the old Miami Arena. It makes no sense to invest 350 million to move the team or have the flexibility to leave.
     
  16. finwin

    finwin Active Member

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    He wasn't a year late when he pledged half of his money to philanthropy a year ago. It was a matter of right and wrong. He did right by paying to have the stadium issue on the ballot and put up for a vote and stinking Dade county double crossed him, kept his money, and didn't put it on the ballot. Not that any vote count coming out of Dade is anywhere near valid anyway.

    http://www.thephinsider.com/2013/5/...ss-pledges-to-give-half-his-wealth-to-charity
     
  17. Jt0323

    Jt0323 Fins Up! Luxury Box

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    any update that can make the stadium louder to give us the 12th man feel?
     
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  18. ASOT

    ASOT New Member

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    Ross or the new owner will see a vast financial windfall of the value of the team, just with the name "Los Angeles" attached to it. Ever hear of the term "buy out clause" ? There will be a nice one that favors Ross & the Dolphins in any lease agreement signed.
     
  19. Da 'Fins

    Da 'Fins Season Ticket Holder Staff Member Club Member

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    I am for the renovations but he just is not going far enough. They need to have an entire side closer in to the field (which could happen if they built on top of the existing structure after removing the seats).

    Unless the stadium rocks, fans will not turnout strongly.

    What I think many are not seeing is that it's not the SB that will be so big - in and of itself. Quite often the SB turns out to be a near wash for communities.

    But, it can have indirect benefits if Miami remains in the SB rotation - as more attention comes to the area this will benefit businesses.

    But, the deeper impact would be having a stadium that just really rocked the noise and even with a mediocre team a raucous stadium could really attack fans and get things rolling in a positive (vs negative) direction. This should not be over-estimated. But, whether the renovations as imagined will increase fan involvement and excitement remains to be seen.
     
  20. MikeHoncho

    MikeHoncho -=| Censored |=-

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    Much props.

    That said, he probably would have saved more face had he not tried to fleece the county for money. He is a business man at the end of the day though.

    Whatever. He's doing the right thing.
     
  21. djphinfan

    djphinfan Season Ticket Holder Club Member

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    The canopy will help so much, I've seen that 1 o'clock simply destroy half the stadiums energy, knock people off their feet, keeps people in the corridors, keeps people from getting into their seats early, it will really be a life saver, folks just don't understand how that sun totally affects the atmosphere in that building as it kicks people's asses.
     
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  22. Coral Reefer

    Coral Reefer Premium Member

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    Back in Miami
    Another 400 million in that stadium.... yeesh.

    Take the $250 Million already dumped in there and my god your 3/4 of the way to having had a brand new stadium.
    Lipstick on a pig.
    BS from the NFL as well.
    I still say it's absurd what the NFL did to S. FL. because it rained in one Super Bowl out of the 10 we've hosted.
    There better be a number of cities that are off the NFL's Super Bowl host list at this point. Tampa being one of them.
     
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  23. Coral Reefer

    Coral Reefer Premium Member

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    Yes.... Demolition. :lol:
     
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  24. djphinfan

    djphinfan Season Ticket Holder Club Member

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    You think??geez, I guess the reality set in and they actually crunched some numbers..lol..dumasses.

    Reef, I can't argue with anything you said, it is puttin lipstick on a pig, and I do think with some visionaries in place by the university of Miami and a little extra by Ross and maybe a little help from the city we could make a fortune on a correctly designed 12 the man stadium, but, they...just..don't...get..it....even when it's already being done right in front of their eyes.

    All that being said, it's better bro, it will help, anything is better than playing in the freakin death trap, so whatta are we gonna do, ***** and moan or just be thankful that something will be done.
     
  25. finfansince72

    finfansince72 Season Ticket Holder Club Member

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    Next to firing Jeff Ireland, the best move he's made since buying the team.
     
  26. VManis

    VManis Season Ticket Holder Club Member

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    I'm not sure how you plan on getting the $250 million back out of the stadium, that's a sunk cost. But even if you could, $650 million isn't even half of the $1.6 billion it cost to build Metlife stadium two years ago.
     
  27. Itsdahumidity

    Itsdahumidity X gonna take it from ya

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    :up:


    Why do we have to match what jerry paid? Realistically, we don't even have to approach 1.6 bil. Here's 3 stadiums built 12 years ago:

    Detroit's Ford Field = $430 million
    Seattle's CenturyLink Field = $430 million
    Houston's Reliant Stadium = $352 million

    Two of them hosted back to back Super Bowls(2006 & 07) and Reliant will host again in 2017 ten years later. goodell & ross should kiss our collective asses.
     
  28. finyank13

    finyank13 Reality Check

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    He gave more to the University of Michigan's business school than he would to renovate this dump....He whips is *** with hunnids...........
     
  29. Desides

    Desides Well-Known Member

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    It makes every bit of sense to increase the value of the team's existing holdings. Ross just made it easier to divest of a holding if the future owner decides he wants to do that, while simultaneously adding value to the holding due to the renovations. That adds appeal to the franchise because it makes the franchise's future more flexible. You can either stay in an existing location that's been renovated twice over a 10 year span, or you can easily walk away for a new stadium. A prospective new owner would love that situation.

    This isn't complicated.
     
  30. VManis

    VManis Season Ticket Holder Club Member

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    Your examples are all 10+ years old, for a number of reasons NFL stadium cost have skyrocketed. The latest stadiums built cost:

    2009 - $1.1 - $1.3 billion - Dallas
    2010 - $1.6 billion - Jets/Giants stadium
    2014 - $1.0 - $1.3 billion 49ers
    2016 - $1.0 billion - Vikings
     
  31. Makados10

    Makados10 Active Member

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    Interesting timing announcing this just before FA.
     
  32. Fineas

    Fineas Club Member Luxury Box

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    Ross has always been able to abandon the stadium and move the team. Owning the stadium doesn't/didn't prevent that at all. If he or a subsequent owner wanted to demolish it and build a new one there they could. Or they could demolish it and build a new one elsewhere. Or they could just leave it there to deteriorate and move the team. Or they could transfer the stadium to a shell, have the shell fail to pay the real estate taxes and have the stadium sold in a tax deed sale. Etc. There are numerous options and none of them are enhanced by putting $400 million into renovations and then moving the team.

    The stadium property is very valuable for redevelopment. It is right between Miami and Ft. Lauderdale and has great highway access. It could be effectively redeveloped in innumerable ways. But none of that is enhanced by pumping $400 million of his own money into the stadium. The suggestion that he is doing this as a precursor to moving the team just doesn't make sense.
     
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  33. djphinfan

    djphinfan Season Ticket Holder Club Member

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    It will improve it on three levels..but when your starting at the absolute unquestioned worst, then it's not gonna come close to becoming an actual advantage..

    It will be better though..

    1) canopy trapping noise.

    2) canopy protecting. Fans from sun, thus allowing them to not be afraid to be in their seats early, not dash for the corridors because of heat stroke or rain and, will not drain their energy so they can become more participatory in the game.

    3) four thousand seats that will be built to bridge the four corners of the lower bowl..


    Hey, if Ross, the univ of Miami, and the city of Miami don't have the vision, intellect, or common sense to understand what a multi plex canes and dolphins venue designed to intimidate and rekindle the atmosphere both programs used to have and where in fact the got their identities, and why they both have lost theirs, then I will settle for lipstick on a pig.
     
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  34. djphinfan

    djphinfan Season Ticket Holder Club Member

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    It's still very exciting news!!!!!!!


    I mean, we play in the worst venue in the league in terms of a participatory fanbase, this is gonna help, this is gonna help the city for sure..

    Ross and folks who agreed with him last year kept trying to tell ya this is why it needs to happen..events, community, better atmosphere to help culture, you were gonna get anything as is, and that was the mistake by the public who voted against..it's just a numbers game
     
  35. Vertical Limit

    Vertical Limit Senior Member

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    Vikings are building a 975 million stadium and the architecture is beautiful and will look much better than Sun Life.

    http://www.vikings.com/news/blog/ar...-Figures/70a2da05-0b2a-4b81-b346-90d56dfb004c
     
  36. Fineas

    Fineas Club Member Luxury Box

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    Using a construction cost projection for a project in an entirely different geographic area isn't very reliable. And if I'm not mistaiken, that Vikings stadium is only going to seat 65,000 or so. I think any new Dolphin stadium would be significantly bigger.
     
  37. VManis

    VManis Season Ticket Holder Club Member

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    Admittedly, the $1.6 billion for Metlife is high, it may be because it is built on a swamp and required pilings or the cost of labor in the NYC area or maybe Tony Soparno got his cut. I've seen figures of $975 to $1.0 billion for the Vikings stadium but even at $975 million its more than double the current renovation budget of $400 million.
     
  38. djphinfan

    djphinfan Season Ticket Holder Club Member

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    How much do you think Seattle is making on their 12 man design thru advertising, merchandise, publicity, culture and ticket sales?

    Does anyone know how much the canes would invest?
     
  39. jw3102

    jw3102 season ticket holder

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    I haven't written on this forum since relocating to Maui in late January. I have kept up with the Dolphins basically checking in and reading the posts of the fans from time to time. When I read that Ross was going to pay for the entire upgrades to the stadium, you were the one person I thought of first. I know how important it is to you that the stadium receives these upgrades. I am happy that Ross has finally agreed to finance all the upgrades and I have no problem with him getting the same tax break the Marlins receive on their stadium.

    As you know,I never had any problem with the stadium the way it is now, but if making these renovations will mean the South Florida area will get the SB game again and Ross is willing to pay for the upgrades, I'm all for it. Of course, now that I am living in Hawaii. I would much rather Ross move the team out of South Florida and build a new stadium here in Maui. Just kidding of course and I look forward to seeing many more fans in the stadium, once the renovations are complete. The Dolphins actually putting a winning team on the field on a consistent basis will help in putting fans in those seats than a renovated stadium, but I am glad to see that you are finally getting the upgrades you have been calling for in recent years.
     
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  40. jw3102

    jw3102 season ticket holder

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    I read the Miami Herald on line from time to time to keep up with the Dolphins and Canes. I read an article several weeks ago the the University of Miami was interested in moving to the new soccer stadium if Beckham builds a stadium near downtown Miami and if the stadium is large enough to hold 40-45 thousand fans. I haven't read anything recently about a new soccer stadium, so I don't know if it is going to happen or not. Perhaps someone living in South Florida has an update on this issue.

    As a long time season ticket holder for the Dolphins and Canes, I always felt the the Canes would draw better crowds, especially students, to the games if they had a stadium closer to the school. They obviously will never get an on campus stadium, but a downtown stadium would be much better for their football program than the stadium they share with the Dolphins.
     

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