Updated, 5:20 p.m., Aug. 18: Related Companies founder and chairman Stephen Ross has found a new name for his Miami Dolphins stadium: Hard Rock Stadium.
Hard Rock International will brand the newly renovated stadium in Miami Gardens, the Miami Herald reported. The Dolphins, owned by Ross, invested $500 million into the stadium’s renovations, including a canopy with a Hard Rock logo that covers most of the 65,326 seats.
The Herald is reported that the Hard Rock deal is for close to $250 million over the course of 18 years – that comes out to $13.8 million a year, the third biggest deal in the NFL.
Although reports surfaced that the two-year project would continue through November, the team has said that it will play at the stadium, formerly named Sun Life, on Sept. 1. Improvements include new video, audio and lighting systems, the 72 Club and upgraded concourses and concessions.
The stadium opened as Joe Robbie Stadium in 1987, then Pro Player, Land Shark and finally Sun Life, after the Toronto-based financial services company, in 2010. The Sun Life name was removed earlier this year.
Ross purchased 50 percent of the Dolphins from previous owner Wayne Huizenga for $550 million in 2008, and assumed full control of the team in 2009.
The Related Companies’ founder has also invested $1 million into a new drone racing league and a mooted bid for a stake in Formula 1 racing. [Miami Herald] – Katherine Kallergis