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Miami Dolphins

Intro

In June of 2014, The Miami Dolphins unveiled what is now a $500 million modernization of Hard Rock Stadium. These renovations to the stadium were intended to modernize the venue more suitable to attract world class events like Super Bowls, College Football Playoff Games, Soccer events, concerts, and more. In working with The Miami Dolphin’s front office, Floridian Partners was able to help the organization successfully navigate through the negotiation process in order to secure this innovative, first-of-its-kind agreement.

Objective

  • Secure stadium funding in a way that was mutually beneficial for both Miami-Dade County and The Miami Dolphins.

Action Taken

In order to secure funding for a stadium modernization, Floridian felt that it was important to engage in negotiations at both the State and Local level. At the State level, Floridian successfully worked to secure partial public funding at the new stadium in the form of tax rebates. Locally, Floridian spearheaded the effort to negotiate a first-of-its-kind “Marquee Event Grant Agreement” between the organization and the City of Miami. This grant agreement will provide the organization with cash payments over the next 25 years for hosting marquee events that have been shown to have a positive economic impact for Miami-Dade County. The agreement provides the Dolphins with a revenue stream that will help finance the modernization of Hark Rock Stadium.

Outcome

As of this writing, The Miami Dolphins have successfully completed their modernization project, and Hard Rock Stadium is now considered to be one of the premier sporting venues in the country. Floridian Partners is proud to continue serving the Miami Dolphins on all matters concerning Miami-Dade county.