A stadium upgrade deal?

[phinphan]

Correct me if I am wrong but I thought the tax payer money was to cover the payments for the loan for the 300 mill they needed to complete the overhaul. I mean the tax was really small to the people of Miami. Now I know they also wanted big tax breaks for their part as I understand it. Mike you seem to be on top of this?

[Pappy13]

You are misunderstanding the deal. The $3 mill a year was in addition to the money for the upgrades.

That's what I said. The renovation deal had nothing to do with the 3 million a year from the state to stay in Sun Life stadium for 30 years. That was on TOP of the money for the renovations. They were willing to sign a deal to stay in Miami for the next 30 years only if the state paid them 3 million a year to do it.

[phinphan]

If they received the deal for the tax payer money they were willing to sign a contract to stay put so in other words they wouldn't get the money and run. As of now as I understand they have no contract with anybody. A lot of teams are under contract to their stadiums we have the luxury of not being one of them or should I say Ross does.

That also makes it easier to move the team.

[Pappy13]

If they received the deal for the tax payer money they were willing to sign a contract to stay put so in other words they wouldn't get the money and run. As of now as I understand they have no contract with anybody. A lot of teams are under contract to their stadiums we have the luxury of not being one of them or should I say Ross does.

However the stadium already is heavy in debt (230 million for past renovations) and they also have to pay millions in property taxes every year. That 3 million a year from the state was basically going to be paying the property taxes of the stadium every year. That's why they wanted the money from the state and that's why they were willing to stay in Sun Life for 30 years if they got the money. This isn't just about the renovations for a superbowl bid, this is about having the money to stay in Sun Life for the next 30 years. The bill would have provided that. That's why killing the bill puts staying in Miami in jeopardy.

[Pappy13]

Mike Dee on PFT LIVE today said himself winning games and selling out every game would help sure but this is a bigger picture issue than just winning more games. Go watch the video yourself its up on their site.

I just listened to it and actually he said just the opposite of what you said, he said the renovations were no "panacea" (his words) and that ultimately winning puts people in the stands and having a nicer stadium would help, but that is not primary, it's secondary. He didn't go so far as to say that putting people in the stands would fix the problem, but he definitely said that the renovations alone wouldn't solve all of Miami's problems.

[phinphan]

However the stadium already is heavy in debt (230 million for past renovations) and they also have to pay millions in property taxes every year. That 3 million a year from the state was basically going to be paying the property taxes of the stadium every year. That's why they wanted the money from the state and that's why they were willing to stay in Sun Life for 30 years if they got the money. This isn't just about the renovations for a superbowl bid, this is about having the money to stay in Sun Life for the next 30 years. The bill would have provided that. That's why killing the bill puts staying in Miami in jeopardy.

Where are you getting this 230 million debt. Please give a link.
The Miami Dolphins reported earning about $25 million a year in operating profits in recent years, but debt payments and other costs tied to Sun Life Stadium led to a series of recorded losses and slim profits.
They are still making money not big but in the profit. Plus I am no lawyer but I know there are several books.

http://www.miamiherald.com/2013/04/10/3336415/debt-stadium-costs-to-hand-miami.html

[Landshark]

Armando Salguero really put things in perspective here.  He is basically calling out Weatherford, a guy who represents no opinion but his own, for deciding not to let the voters have a say in this.

http://www.miamiherald.com/2013/05/07/3383909/armando-salguero-opposition-to.html

[CF DolFan]

You know ... I was wondering why Sea World was putting so much money into the Citrus Bowl. New logo? New Stadium?  Hmmmmm maybe new Belgian owners?

[Pappy13]

Where are you getting this 230 million debt. Please give a link.

It's on the Mike Dee interview that MikeO mentioned. Several minutes into the broadcast Mike Florio interviews Mike Dee about the bill. At the end of the interview (about half way through the broadcast) Florio asks Dee how it's possible that the Dolphins could be losing money. Dee mentions the 230 million in previous renovations to the stadium that Miami is still paying back and he also mentions that the Dolphins didn't sell enough tickets in I think it was 7 out of 8 home games to avoid a blackout so the Dolphins bought the rest of the tickets. That ain't cheap. The Dolphins would have saved a LOT of money just not having to buy those couple thousand tickets for each game. Just imagine how much money the Dolphins would MAKE if they would sellout the place EVERY game?

http://profootballtalk.nbcsports.com/2013/05/06/pft-live-0506-mike-dee-manish-mehta/

[Phishfan]

Considering Miami has the #1 most difficult strength of schedule in the NFL this season, that's not a good thing!

I hate this bukllshit stat. This is all based off of teams from last year. This is a new year. I sure hope the players don't sit and try to analyze things like this before the season starts.

[Brian Fein]

^^ Exactly.  Let games black out.  Who cares?  I wonder at what point they make money from TV revenue vs the cost of buying up tickets?

Best case would be to have people buy up tickets, not have to eat that cost, AND get the tv revenue.

[masterfins]

New Team Name:  The Montreal Dolphins.

[MyGodWearsAHoodie]

New Team Name:  The Montreal Dolphins.

Would be better than LA.  LA would either require realignment of the team divisions or Dolphins making three cross country trips just for division games.  Montreal is closer to Boston/NYC/Buffalo than Miami. 

[Spider-Dan]

LA being in the AFC East makes as much sense as Indianapolis being in the AFC South.  There's no way the league would allow it.

OH, WAIT...

[bsfins]

Didn't we just a do some upgrades a few years ago? How much did those cost? Who paid for them?