Stadium Renovation Update

Miami Mayor Carlos Gimenez came on the Joe Rose Show on 560WQAM Tuesday morning to discuss the recent stadium proposals and agreements with the Dolphins, Heat, and David Beckham's soccer team. Gimenez stated that some of the key hurdles remaining before an agreement on the Sun Life Stadium renovation is placed is that the city would like to pay for Super Bowls and any other major events at the stadium after the fact and not before. The Dolphins and the city of Miami also need to bring in lawyers to determine what the value of a Super Bowl is and what fees the Dolphins should receive from it. Click here to listen to the full interview between Joe Rose and Mayor Gimenez.

UPDATE: The Miami Herald is reporting tonight the deal is pretty much done according to sources. The Dolphins and the mayor's office are just finalizing some paperwork. Some of the key points are..

-Miami-Dade County wouldn't have to pay the Dolphins for 10 years for any events. It's a delayed payment system and the first payment would come to 2024. So if the Dolphins host a Super Bowl before 2024, the Dolphins organization wouldn't see the money till 2024. This would allow Miami-Dade County to build up a hotel tax reserve.

-The Payments will be broken down like this...Super Bowls and World Cup Finals would bring the Dolphins organization $4 million. College Football Championship Game and World Cup Semi-Finals will bring the Dolphins organization a $3 million bonus. A College Football Semi-Final would bring the Dolphins organization $2 million. And all other big events (ie a WrestleMania or something along those lines) would bring the Dolphins organization $750,000.