Dolphins Owner Funding $400 Million in Stadium Renovations Himself
The Dolphins tried unsuccessfully to get South Florida taxpayers to help pay for renovations to SunLife Stadium. According to the Palm Beach Post, owner Stephen Ross has decided to take matters to his own bank account to a tune of $400 million.
Sources close to the Dolphins initiative to renovate the stadium are confirming that Ross will indeed pay the bill with his own money in order to bring the Super Bowl back to Miami. Also, Ross apparently is already in talks with Miami-Dade County Mayor Carlos Gimenez about his plans for the stadium. The renovation plans include a canopy to shade the seats.
Here is the catch. According to the Miami Herald, Ross is asking the county to stop paying property taxes on the stadium in exchange for the funding the stadium renovations himself. This would be about $4 million per year, which currently goes to help fund schools, libraries and other government services. However, Mayor Gimenez is adamant that he will find a way to make the deal happen without hurting school and other government services’ budgets. Gimenez says that he is aware that the renovations to SunLife are vital to bringing a Super Bowl back to Miami.