Ruiz stadium update

[TheOriginalCane]

Ruiz can’t by the Dolphins.

Can he bi the Dolphins?

 

[rsa coral gables]

Here's what I would say, and I promise you - no agenda, this is just based on what I know from having worked in the industry and seen the revenues and contracts:

---Game-day ticket sales - this one is probably not going to result in some big windfall, we are probably right back to the same spot whether we go to "Tropical" or stay at "Hard Rock". The real money-maker (which I do not think we would do, as a one-off private school) would be if we had our own "ticket processor" and did not use Ticket *******. We did this at Speedway/NASCAR, we charged the ticket fee and kept all the money. All it really cost us was a call center, which is something we CURRENTLY have with the UM Ticket Office and/or the UM Capital Fundraising group. Again, highly unlikely UNLESS we were also the manager of the facility, but I'm just saying...them there "ticket fees" are a motherfvcking goldmine.

---Parking - this one is almost pure gravy. Not sure what our split is with Hard Rock, but I think they retain almost all of this, particularly the "SunPass" yellow lot revenue. Miami might get a percentage of Orange lot/Green lot. Given the layout of Tropical, you could probably charge a price premium for really good Orange Lot/Green Lot locations. THINK UCF. Trust me on that one, one of my best friends is a former athlete at UCF and still has season tix. Also, per my earlier post, we are going to have to explore the legalities on the parking, as you would effectively be converting a public park to private use for 8 hour blocks 7 days out of the year. STILL NOT AS EGREGIOUS AS WHAT THE MARLINS DID, but it will require delicate negotiation. Bottom line, if Miami is able to create some sort of a mixture of parking revenue at Tropical and some "premium tailgating" on campus, this would be money we simply don't make currently.

---Food/bev rev - UM already has an arrangement with a food supplier to run all of the cafeterias and food operations on its multiple campuses, plus we have warehouse space (not on campus). Stadium food is MOSTLY basic, you aren't talking tons and tons of menu items. You could open up certain spaces to be manned by local restaurants, so you could have a "Versailles stand" selling Cuban sandwiches under a "name brand". Food prep off-site, just send over staff for 7 events. Easy peazy, plus you collect a royalty on third-party vendors. But for the "basic" food joints, the burgers/dogs/fries/Cokes, you rake in the money hand over fist that you are simply NOT getting currently. I'm not sure if UM gets a penny off of food/bev at Hard Rock - we don't "sell" food/bev to ticketholders, we don't manage it, and we aren't involved with the money collection, so I don't see anything that enables UM to audit Hard Rock food/bev and claim a cut.

---Merch - this one is almost non-existent at Hard Rock, and could be a LOT better in our own place. Whether you outsource to Fanatics (many MLS soccer teams do), you can still create a seamless "storefront" and delivery system that allows for shipping, gameday pickup at stadium, or even on-campus pickup. You could also have a couple of "haulers" like NASCAR does, essentially 18-wheelers with a pop-up side that turns the hauler into a portable storefront. I could go on and on for paragraphs on merch setups, but I'll save that. In short, merch sales are almost non-existent at Hard Rock.

let's see.

 

[Tad Footeball]

Ruiz can’t by the Dolphins.

The Broncos just went for a shade under $5 Billion to a member of the Walmart family and they don't even own their stadium.

I'm a Ruiz guy but he's nowhere near NFL owner level rich yet. At least not where it now takes to be to considered for entry into that club even if you can find a franchise for sale.

 

[Go Canes!!]

The Broncos just went for a shade under $5 Billion to a member of the Walmart family and they don't even own their stadium.

I'm a Ruiz guy but he's nowhere near NFL owner level rich yet. At least not where it now takes to be to considered for entry into that club even if you can find a franchise for sale.

Agree. Plus there’s already a succession plan approved by the NFL. Beal has a net worth of at least $10 billion.

Ruiz literally can’t buy the fins.

NFL approves succession plan for Dolphins owner Stephen Ross

NFL owners have approved a succession plan for the Miami Dolphins that would give New York businessman Bruce Beal, Jr., the right of first option to purchase the franchise should Stephen Ross, the current owner, pass away or decide to sell, according to league sources.

www.cbssports.com

 

[Cryptical Envelopment]

The Broncos just went for a shade under $5 Billion to a member of the Walmart family and they don't even own their stadium.

I'm a Ruiz guy but he's nowhere near NFL owner level rich yet. At least not where it now takes to be to considered for entry into that club even if you can find a franchise for sale.

Huh? He is absolutely at NFL owner level for net worth right now. Now it’s not all liquid, but plenty of team deals have been cobbled together with collateralized loans and/or PE backing.

 

[Cryptical Envelopment]

Ancillary to the convo, but interesting nonetheless.

Hawaii’s Aloha Stadium to Undergo $400M Revitalization

The New Aloha Stadium Entertainment District (NASED) will develop commercial, residential, and retail buildings surrounding the site.

frontofficesports.com

 

[Rellyrell]

Ancillary to the convo, but interesting nonetheless.

Hawaii’s Aloha Stadium to Undergo $400M Revitalization

The New Aloha Stadium Entertainment District (NASED) will develop commercial, residential, and retail buildings surrounding the site.

frontofficesports.com

Great minds; was about to post the same thing. B/c while that’s going on in Hawaii, this is going on in Inglewood

SoFi Stadium and Hollywood Park Taking Steps to Make the Complex a Local and Global Destination - Los Angeles Business Journal

One person who has been instrumental in the development of SoFi Stadium and Hollywood Park is Jason Gannon.Gannon, who serves as the development’s managing director, has been with Los Angeles Rams owner Stan Kroenke’s Kroenke Group for more than 12 years. He has held a few different roles within...

labusinessjournal.com

 

[Tad Footeball]

Agree. Plus there’s already a succession plan approved by the NFL. Beal has a net worth of at least $10 billion.

Ruiz literally can’t buy the fins.

NFL approves succession plan for Dolphins owner Stephen Ross

NFL owners have approved a succession plan for the Miami Dolphins that would give New York businessman Bruce Beal, Jr., the right of first option to purchase the franchise should Stephen Ross, the current owner, pass away or decide to sell, according to league sources.

www.cbssports.com

Ahhh, I forgot about that too. I believe that kind of leaked when the heat was temporarily on Ross over the Flores lawsuit. The league approved succession plans are supposedly a common thing in the NFL but the sports media still seemed surprised by the concept.

 

[Tad Footeball]

Huh? He is absolutely at NFL owner level for net worth right now. Now it’s not all liquid, but plenty of team deals have been cobbled together with collateralized loans and/or PE backing.

Disagree. The NFL is very different than the other pro sports. He's nowhere near "new" owner level of wealth to successfully acquire a team. The league has basically outlawed ownership groups and pretty much curtailed any pe involvement too.

NFL playbook for private money has limited options and no audibles | Fox Business

www-foxbusiness-com.cdn.ampproject.org

 

[ssvir]

USC’s agreement as operating partner is the upkeep of the stadium, including if any renovations that were needed, a financial commitment was made. USC earns naming rights, along w/ USC and non USC events revenue. In turn, they pay an annual leasing fee to the state, while also forking over 5% of total profits earned from events.

As an example: If SC made $300m in gross revenue from all events held at the Coliseum/Sports Arena, USC pays The State $1.3 + 5% ($15m). SC keeps the rest less operating expenses.

Now, do I expect such a deal? No; however, if Miami was able to come in as an operating partner, where they share upkeep responsibilities, while allowing them a piece of the pie in non-UM event revenue, it could be profitable.

Again, this is speculative & answering a ? directly as to how SC & The State makes $ in their agreement for The Coliseum.

Conveniently forgot USC has spent $350M+ thus far just remodeling the Coliseum.

 

[CaneinBroward]

Sorry if already posted, but if Ruiz buys the Dolphins (and HRS is part of the deal), would Ruiz still want to build a stadium for UM at Tropical Park?

 

[Rellyrell]

Conveniently forgot USC has spent $350M+ thus far just remodeling the Coliseum.

Why would I “conveniently” leave out something that had zero to do w/ the lease agreement which was the question? USC chose to spend that money b/c they wanted to transform the Coliseum in to something more than just USC football. HENCE, they’ve had several events there such as a mega concert, weddings, NASCAR, Monster Trucks etc. in which USC pocketed the revenue & will continue to pocket the revenue.

 

[Rellyrell]

Speaking of stadium, did ya’ll see what Kam said about playing at HRS a couple months ago?

 

[CaneinBroward]

Speaking of stadium, did ya’ll see what Kam said about playing at HRS a couple months ago?

No, what did he say?

 

[Rellyrell]

No, what did he say?

I’ll post the article:

Hurricanes not at ease in Hard Rock Stadium - Coliseum

The University of Miami currently leases Hard Rock Stadium, located 22-miles from campus and provides busing to University of Miami.

www.coliseum-online.com

 

[hoops156]

He stated on Twitter he is trying to buy both. It’s going to be difficult for him just to buy one but who knows.

he can't buy the fins. he may be able to buy the Marlins but doubt Sherman group will sell if hes relying too heavily on bank loans. they didn't have the money up front for what they purchased the marlins for and it hurt them in payroll. they are team poor.

 

[JD08]

I’ll post the article:

Hurricanes not at ease in Hard Rock Stadium - Coliseum

The University of Miami currently leases Hard Rock Stadium, located 22-miles from campus and provides busing to University of Miami.

www.coliseum-online.com

Commented Kamren Kinchens, a sophomore safety on the Miami Hurricanes football team, “Our stadium is just not packed. It’s too far for our students to drive 40 minutes to the stadium.”

This is another thing we've been over. We don't huge a huge student body. Even if you filled Lake Osceola, you'll never pack a 65,000 person stadium with 17,000 students, even if they all did attend. Of all the reasons to do the Tropical Park stadium, this isn't one of them.

 

[Go Canes!!]

Commented Kamren Kinchens, a sophomore safety on the Miami Hurricanes football team, “Our stadium is just not packed. It’s too far for our students to drive 40 minutes to the stadium.”

This is another thing we've been over. We don't huge a huge student body. Even if you filled Lake Osceola, you'll never pack a 65,000 person stadium with 17,000 students, even if they all did attend. Of all the reasons to do the Tropical Park stadium, this isn't one of them.

There will be no discernible difference in the number of students attending games if we move to Tropical Park.

The end.

 

[hoops156]

Commented Kamren Kinchens, a sophomore safety on the Miami Hurricanes football team, “Our stadium is just not packed. It’s too far for our students to drive 40 minutes to the stadium.”

This is another thing we've been over. We don't huge a huge student body. Even if you filled Lake Osceola, you'll never pack a 65,000 person stadium with 17,000 students even if they all did attend. Of all the reasons to do the Tropical Park stadium, this isn't one of them.

eh. were only getting 8k-10k tops in students lol. we also dont have a student pop thats a rabid football base either like the other college towns. thats their thing to do on Saturday. its centered around their weekend. for miami students, football isnt a priority on Saturdays by and large. its going to the beach, out, etc.

id say the stadium isnt packed bc it will never be packed. its how miami is. we wont be selling out each week. not enough hardcore interest from the area for that and too many other options. either way, if Ruiz can get the land, im excited based on his proposal. thats just the biggest hold up for me. dont want to get excited till I see the land actually get leased out

 

[hoops156]

fwiw, the stadium attendance isnt just a canes thing. the fins dont sell out either and they haven't left their home. miami is an event town, not a sports town. we will never be the city that goes out every weekend to attend football games. well do it for big games bc they're events and the hype machine is there, but no matter the sport, it will never be full every game. the heat come the closest, but a bit diff when its 20k (and even reg season games aren't full) vs 65k.