Ross: Miami needs 'world-class' stadium
March 11, 2014
MIAMI (AP) - Miami Dolphins owner Stephen Ross says the team's stadium must be upgraded if South Florida is to host another Super Bowl, spurring his decision to pay for up to $400 million in renovations himself.
In exchange, Ross wants an exemption from up to $4 million in annual property taxes, with Miami-Dade County assuming ownership of the stadium.
That arrangement would be similar to those of the county's other professional teams. The Miami Marlins' ballpark and the Miami Heat's arena are county-owned and exempt from taxation.
The Dolphins' latest plan to finance stadium improvements was disclosed Monday. Miami-Dade County Mayor Carlos Gimenez said he's not yet comfortable with the proposal, but said it represented progress in efforts to upgrade the stadium.
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