Report: Dolphins stadium deal looks dead

Won't even make it to the voters.

Has to be a gut punch to Ross, who has given millions to Republicans yet couldn't even get this bill through a Republican dominated legislature.

Although, really no reason to give up. He should bring it back up next year if it's really so important. May was an artificial deadline anyway making Super Bowl 50 the prize. Last I checked, there will continue to be Super Bowls played well into the future.

 

Pissass.

Ross will probably foot the bill.

 

As he probably should have anyway.

 

Don't think he could, even if he wanted to. I'm not sure who would loan money to an enterprise that is losing money.

 

lol

 

You can laugh all you want, but its pretty plain to see. The books were opened. The fundamentals for the Dolphins are the worst in the league.

 

Even if he had the money, he can't. The NFL limits how much debt a team can carry. The Dolphins already are carrying a massive debt.

 

If I'm Los Angeles, I'm putting together a package for Mr. Ross. And If I'm Mr. Ross, I listen.

 

Ross will not move the team. If the team moves, it will be after a new owner buys the team.

 

Yeah, the books were opened. Ross's debt on the purchase doesn't mean the team is losing money. It is virtually impossible for any individual team to lose money. How much is Ross's revenue sharing cut?

I'm sure that because he overpaid for the franchise that he might personally not be getting a eyarly return on his investment, but the franchise increases in value every day, and if he gets these improvements in the future then it will increase more. He will make money on the deal by the time he sells, trust me.

 

Who in LA is putting together a package?

There is no stadium deal anywhere close to completion in LA. There is no appetite in LA to do this and no groundswell of public support. Tim Leiewicke, who was heading AEG's LA stadium development team has since become the President of the Toronto flippin Raptors. LA is a pipe dream and is leverage more than anything else.

 

While it is highly unlikely that he moves the team, I don't put anything past money and proper motivation.

 

There is nowhere to go. The NFL has previously rejected proposals to use either the LA Coliseum or the Rose Bowl as temporary homes in LA. They want the stadium built first.

That's years away, if it ever even happens.

 

I'm sorry, but this is just off-base, and naive. Stephen Ross doesn't have debt on the purchase. The Miami Dolphins as an enterprise have debt. The Miami Dolphins borrowed hundreds of millions of dollars to renovate their stadium. Every season they pay tens of millions in interest alone on their debt. Its "virtually" impossible for an NFL team to lose money, because NFL teams get subsidies from their markets! Miami hasn't gotten those same subsidies, so they've been forced to borrow the money themselves. Miami's debt situation is the worst in the NFL. Revenue isn't the issue.

 

I don't know. I've taken a few days leave so I haven't been able to help them write it in the past few weeks. I'll check with Steve in Accounting and get back to you.

 

Bingo. S. Florida had better enjoy what time the Dolphins have left. Ross is a businessman and if he cannot draw Super Bowls anylonger combined with low attendance there is no reason to own a football team anylonger.

 

Even if that's the case, the value of the franchise is increasing every day. Mickey Arison is losing money every year too (or so he claims) but the Heat's value has increased by more than $400 million since that LBJ guy showed up. and tyruth be told, Mickey could get a billion or close to it for the HEat if they went up for sale today. Espescially since the Sacramento Kings are apparently worth $525 million, whether they move to Seattle or not.

 

Who could blame him..

 

You do realize the Super Bowl is not being cancelled right?

There will be Super Bowls 52,53,54,55 and so on to bid for you know.

Let Ross come back next year with more time for the legislature to review the bill. He tried to push this through =ast and loose and it didn't work. But if it's such a great deal, and is as important as he claims, the doors of the legislature are not closed. Try again next year and bid on Super Bowl 52.

 

NFL teams can only borrow a small amount of money against their value. When the Dolphins try and borrow money, its based on how much profit they are making. If they are losing money, nobody is going to loan them money, because the NFL prohibits them from putting up collateral beyond a certain amount.

 

Ross would be the main person benefitting. I'm a season ticket holder and don't particularly care whether they make these renovations or get another Super Bowl. There is certainly some, albeit smaller than you have told economic impact of the Super Bowl but our hotels are filled every February regardless.

And again, if this is so important, try again next session. The legislature didn't say "no" forever

 

First of all, you don't know that. But even if it were, go back to the legislature and try again next eyar when you have more time to lobby, etc. Maybe the economy improves and more reps look favorably on it. the door is not closed forever and having Super Bowl 50 isn't any more valuable than having 52 or 53 (other than the cool factor)

 

Either way, I still think this gets through the Fla House.

 

So then Ross can use his personal funds. Or he can simply come back to the legislature next session with this same propsoal when there is more time and no artificial deadline

 

How? The session is over today.

 

He's already using personal funds to operate the team. If anyone believes Stephen Ross has $400M worth of liquidity to put into the Dolphins, I have some real estate for sale.

There will always be an artificial deadline as long as the deal is conditional upon being awarded a SB.

 

Wow...lol..

 

This.

Or is this turning into a pissing contest and the legislature wants to show Ross whos boss? If they say no today... If I'm Ross....I'm thinking....what's going to make them change their mind tomorrow? Oh...they wanna wait until the Dolphins win a Super Bowl then come and support the team? Hmm....sounds about par for the course.

 

I don't know. I don't know what the specific objections to this bill are, although I'm sure that will become public. Perhaps it's something that can be resolved with additional time. If not, then so be it. Ross will have to figure something else out.

 

You may not care for the renovations, but you certainly care if Miami is spending up to the salary cap, or the salary floor.