Friday, November 06, 2015

Update on stadium renovations

It turns out that Ross, according to "sources," did get about $200 million from the NFL to fund stadium improvements. And the great news for him is that it wasn't so much a loan as it was money from profit sharing.

So forget what I said about him fronting construction money. The improvements cost him pretty close to $0 out of pocket. It's not his money that's being used...

Also, as we know, he gets a steady stream from the county for events he brings to town (though missing out on the college football national championship may sting a little).

And, he applied for state subsidies. In addition to the tax credit for the Dolphins, he also applied for an economic incentive that would net him $3 million per year.

This one is for "economic development" because, you know, for 25 years there hasn't been any growth near the stadium (save for a wal Mart next door) but now he thinks there will suddenly be some.
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