The Real Deal Miami

Carlos Gimenez proposes new Miami Dolphins stadium deal

Team would fund renovations, get bonus payments for attracting major events

June 11, 2014 12:45PM

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Stephen Ross and Sun Life Stadium

Stephen Ross and Sun Life Stadium

The Miami Dolphins are on the verge of getting some much-needed good news about the team’s efforts to upgrade Sun Life Stadium.

Miami-Dade County Mayor Carlos Gimenez sent the latest stadium renovation proposal to commissioners on Tuesday in advance of an expected vote on the agreement early next week. Under the agreement, the county would pay the Dolphins for attracting major sporting events in exchange for owner Stephen Ross covering the $350 million cost of the improvements. Miami-Dade would be able to delay awarding bonus payments until 2024.

Potential events that could trigger bonuses include the Super Bowl, college football’s Bowl Championship Series games and international soccer matches, according to the Miami Herald. Securing Super Bowl hosting honors would result in a $4 million payment to the Dolphins, while an international soccer match would generate $750,000.

“We feel there’s such a greater economic impact in our community from a Super Bowl, from a World Cup final, from a BCS final,” Gimenez spokesperson Michael Hernandez told the Herald. “It benefits the community much more than the relatively small sum that is being paid out.” [Miami Herald]Eric Kalis

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