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Ruiz stadium update

Silentobserver said:


Just a proposal but put the Ruizs's idea on paper and provides an idea.

Thoughts?
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jim carrey disbelief GIF
 
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TheOriginalCane said:
And DeSantis can't dismantle the Disney special taxing district until those bonds are paid off as well.

We shall see, we shall see. At the $$$ amounts these guys are paying for sports franchises, it could happen.

For now, it's just my dream. I hate the Marlins soooo much.
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Is 2097 real or is everyone being facetious? I’m laughing hard right now but I honestly have no clue since I’m not from south Florida.
 
rsa coral gables said:
"video game virtual reality" talk. nothing substantively has been presented, but everyone is making assumptions on the money split, commercial terms etc.

if UM is only going to be a tenant at tropical, which is the most likely scenario, then it should remain at HRS. just an opinion
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I love ya, but you are doing the same exact thing you criticize everyone else over. "If UM is only going to be a tenant at Tropical". The term "tenant" is being used very loosely and pejoratively there.

We won't pay rent. Yes, we won't own the underlying land. The stadium will be the functional equivalent of Homestead Motor Speedway, a building that someone pays for that sits on government land.

One of the last remaining uses for the Florida Department of Revenue Form DR-601...

Again, assuming that the final terms are comparable to what I've heard, Miami will get comparable ticket sale revenue, and more parking/food/bev/merch revenue than what we currently get.

I'm not saying it will be the same as what Michigan or Ohio Taint rake in on their stadiums, but it will be an increase in the types of revenue. Then it will be up to us to win games and put butts in the seats.
 
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Ajcane8 said:
The never-stadiumers will still be talking about how this can never happen because: XYZ while they are walking across the "Johnny Ruiz Jr. Pedestrian Bridge" over the 826 on their way into "Miami Hurricanes Orange Bowl Field at John Ruiz Stadium presented by Life Wallet Tropical Park" for opening day against conference foe USC, Labor Day weekend 2026.
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i will put up everything i own that the stadium will not be built by labor day 2026. you in?
 
TheOriginalCane said:
I love ya, but you are doing the same exact thing you criticize everyone else over. "If UM is only going to be a tenant at Tropical". The term "tenant" is being used very loosely and pejoratively there.

We won't pay rent. Yes, we won't own the underlying land. The stadium will be the functional equivalent of Homestead Motor Speedway, a building that someone pays for that sits on government land.

One of the last remaining uses for the Florida Department of Revenue Form DR-601...

Again, assuming that the final terms are comparable to what I've heard, Miami will get comparable ticket sale revenue, and more parking/food/bev/merch revenue than what we currently get.

I'm not saying it will be the same as what Michigan or Ohio Taint rake in on their stadiums, but it will be an increase in the types of revenue. Then it will be up to us to win games and put butts in the seats.
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my points are as follows.

1. UM will have to pay something for the use of the stadium, because nothing is free. hence UM will be a tenant of some kind. i see no way around this even if they are part equity owners, which is unlikely they will be. no one gives anything for free. what would be ruiz's benefit for not charging rent? his equity owners, lenders and the county would never allow it, nor should they.

2. UM might be able to sell food/beverages, merchandise and parking and keep some or all of it. if they keep all of it, i suspect the payment to ruiz will be higher. i am not sure how much of the food/beverages, merchandise and parking they now keep, if any at all.

3. if the above is true, which is an assumption, hen we are essentially in the same position as HRS.

even though we are all working on assumptions, all of my points are reasonable and customary. which one isn't?
 
Rellyrell said:
It’s not true; Miami absolutely pays rent. Not only did I post the financial statements here, but I posted the article of the financial loss Ross would suffer if Miami left.
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actually when Barry Jackson I believe it was did a report on the new stadium, he stated that we dont pay rent. the fins do take revenue in our concessions and parking or similar. trying to find a free version of the article.
 
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hurricaneman said:
For someone going to watch Miami play a team:

Elite Games:
Alabama
Georgia
Florida
Texas A&M
Auburn
LSU
Oklahoma
Texas
Clemson (potentially)
FSU (potentially)

Exciting Games:
Tennessee
Ole Miss
Va Tech (potentially)

OK Games:
Arkansas
Miss St
Kentucky

Bad Games:
Missouri
South Carolina
Vanderbilt

That's 10 of the 19 games you could play would be major events. I think because we've been watching ACC football for two decades we've forgotten how exciting football can be week in and week out. If you assign points to each level (4 for elite, 3 for exciting, 2 for good, and 1 for meh) the average game played in the SEC would be "Exciting". Where as in the ACC the average games is "OK", which I feel perfectly describes the experience.

And in the ACC:

Elite Games:
Clemson
FSU

Exciting Games:
Va Tech
UVA
Pitt
UNC

OK Games:
Wake Forest
Louisville
NC State

Bad Games:
Duke
GT
Boston College
Syracuse
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What if, for the sake of argument, Notre Dame says "FU" to the B1G and joins the ACC?

That's an Elite home and home series with them. Definitely an 8:30 p.m. kickoff. Just dragging your a$$ from the tailgate to your seat after the all-day bender in the Blue Lot would be an effort.
 
hoops156 said:
actually when Barry Jackson I believe it was did a report on the new stadium, he stated that we dont pay rent. the fins do take revenue in our concessions and parking or similar. trying to find a free version of the article.
Click to expand...

And I posted not only the Miami Hurricanes financial statement, but also a recent article about the revenue Ross would lose if we left. I’ll take the official financial report over Barry
 
rsa coral gables said:
my points are as follows.

1. UM will have to pay something for the use of the stadium, because nothing is free. hence UM will be a tenant of some kind. i see no way around this even if they are part equity owners, which is unlikely they will be. no one gives anything for free. what would be ruiz's benefit for not charging rent? his equity owners, lenders and the county would never allow it, nor should they.

2. UM might be able to sell food/beverages, merchandise and parking and keep some or all of it. if they keep all of it, i suspect the payment to ruiz will be higher. i am not sure how much of the food/beverages, merchandise and parking they now keep, if any at all.

3. if the above is true, which is an assumption, hen we are essentially in the same position as HRS.

even though we are all working on assumptions, all of my points are reasonable and customary. which one isn't?
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1. On "use of the stadium", it is my understanding that there should not be a "rent" per se. No set amount paid annually. The field/stadium, while larger and more complex, would be maintained in a similar (but elevated) fashion as currently, by county employees. What I've heard is that UM picks up the gameday costs (ticket-takers, custodians, etc.) and it comes out of the ticket revenue, but no payment of a separate rent. Essentially, the portion of tix money that HRS retains to cover their costs would be a wash. As I mentioned earlier, the TICKET REVENUE that UM pockets would be very similar to the current arrangement, but with no "rent" payment on top of that. So we come out ahead here. Not by tens of millions, but a small win nonetheless.

2. Parking - we don't get much here. We sell orange/green to season ticket holders, so we get a cut, but the lion's share goes to HRS. They also retain the revenue from other lots, like Yellow, and the day-of revenue. This one is tricky (as I mentioned earlier in relation to the *****-job that David Samson put on the City of Miami). With a smart negotiator who understands the property tax issues, you could do a deal that allows UM to retain most of the parking revenue. Depending on how much we try to do on-site, vs. UM and "shuttle-busing", we could make a very nice amount of money off of running (and collecting for) our own parking.

3. Food/Bev - we currently get nothing from HRS on food/bev. If we run it ourselves, we can profit. Clearly, it will depend on the mix of UM-run vs. third-party-partners running snack bars. The model that the NASCAR tracks use is that they employ local Boy Scout/Girl Scout troops, school clubs, charities, and other types of organizations to run the FOOD stations (NOT NOT NOT alcohol), and the groups do the special events as fund-raisers. It's a SUPER low cost and community-friendly method. The drawback is that folks can be less-than-skilled at high-volume food service. Miami is a big enough town that you could probably employ a lot of the same event staff folks that work HRS/AAA/Sunrise etc. Again, this would be a very nice amount of money that COULD be made, but it involves a few more skills than selling parking, including food inventory management.

4. Merch - this one could be a moderate bump or a huge bump, depending on how we handle it. If you outsource to Fanatics, they handle a lot of the decision-making on venues and methods. Lots of people don't realize this, BUT WE ARE ALREADY PARTNERED WITH FANATICS, the UM Sports website redirects merch sales to a Fanatics-operated web storefront. Fanatics is based in Jax, would love to see us do some sort of ground-breaking deal wth them that is a step ahead of the current "put your university name on our Fanatics page" stuff. Would be nice to integrate with the Bookstore and AllCanes (both owned by Follett, might be tricky). Would love to see NASCAR-style haulers selling merch as you come in from the north (Bird), south (Miller), or east (Blue, assuming they build a bridge/tunnel for the Palmetto). The simple fact is that most UM merch is sold by (a) Fanatics, (b) Canes Wear, (c) the Bookstore, and (d) AllCanes. Does ANYONE ELSE sell anything of merit? Not adidas. Not Champs/****s/Sports Locker. So we could make a LOT of money on merch, particularly if we flip back to Nike.

Obviously...the bullet points...

---no rent
---small bump in ticket revenue (retain more), after payment of gameday direct expenses (ticket-takers, custodians, etc.)
---big bump in parking revenue, assuming a good negotiaton with county, and after payment of parking attendants
---moderate to decent bump in food/bev revenue, currently non-existent, but dependent on how much is done by UM vs. outsourced/partnered
---merch bump could be significant if we do a nice 360-degree deal that allows us to sell like mo-fos 24-7-365.25 and get high quality merch to people when they want it

If any of those issues or revenue streams change, the situation becomes more challenging, but those are the big elements of revenue and expense. Could there be other possible issues in the future? Personal Seat Licenses? Stadium Naming Rights? In-stadium advertising? Who knows. I would suggest that the County gets the revenue from in-stadium ads, less a commission paid to UM if we sell them ("official UM sponsors, etc.").

And then the GREAT UNKNOWNS would be what the stadium could be used for BY THE COUNTY OR THE RUIZ FAMILY to further monetize the deal. UM would turn the name "Tropical Park" into something famous. Would that swing some concerts? Let's be honest, no musician goes to play Fenway Park BECAUSE OF THE ACOUSTICS. They do it because it is a cool venue. Maybe you book some Jimmy Buffet/Beach Boys concerts (I know, I know, they are old as ****, I'm just using them as an example). Maybe the County or John Ruiz makes some money directly, or Ruiz makes money indirectly with the economic development around the stadium. Who knows.

But the point is, some people are making this argument as if UM is both the SOLE TENANT and PRIMARY EXPENSE of the facility. Who knows? From my vantage point, I only care about 7 blocks of 12 hours each year. The rest of the financial model can be filled in by the Ruiz family and the county.
 
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TheOriginalCane said:
1. On "use of the stadium", it is my understanding that there should not be a "rent" per se. No set amount paid annually. The field/stadium, while larger and more complex, would be maintained in a similar (but elevated) fashion as currently, by county employees. What I've heard is that UM picks up the gameday costs (ticket-takers, custodians, etc.) and it comes out of the ticket revenue, but no payment of a separate rent. Essentially, the portion of tix money that HRS retains to cover their costs would be a wash. As I mentioned earlier, the TICKET REVENUE that UM pockets would be very similar to the current arrangement, but with no "rent" payment on top of that. So we come out ahead here. Not by tens of millions, but a small win nonetheless.

2. Parking - we don't get much here. We sell orange/green to season ticket holders, so we get a cut, but the lion's share goes to HRS. They also retain the revenue from other lots, like Yellow, and the day-of revenue. This one is tricky (as I mentioned earlier in relation to the *****-job that David Samson put on the City of Miami). With a smart negotiator who understands the property tax issues, you could do a deal that allows UM to retain most of the parking revenue. Depending on how much we try to do on-site, vs. UM and "shuttle-busing", we could make a very nice amount of money off of running (and collecting for) our own parking.

3. Food/Bev - we currently get nothing from HRS on food/bev. If we run it ourselves, we can profit. Clearly, it will depend on the mix of UM-run vs. third-party-partners running snack bars. The model that the NASCAR tracks use is that they employ local Boy Scout/Girl Scout troops, school clubs, charities, and other types of organizations to run the FOOD stations (NOT NOT NOT alcohol), and the groups do the special events as fund-raisers. It's a SUPER low cost and community-friendly method. The drawback is that folks can be less-than-skilled at high-volume food service. Miami is a big enough town that you could probably employ a lot of the same event staff folks that work HRS/AAA/Sunrise etc. Again, this would be a very nice amount of money that COULD be made, but it involves a few more skills than selling parking, including food inventory management.

4. Merch - this one could be a moderate bump or a huge bump, depending on how we handle it. If you outsource to Fanatics, they handle a lot of the decision-making on venues and methods. Lots of people don't realize this, BUT WE ARE ALREADY PARTNERED WITH FANATICS, the UM Sports website redirects merch sales to a Fanatics-operated web storefront. Fanatics is based in Jax, would love to see us do some sort of ground-breaking deal wth them that is a step ahead of the current "put your university name on our Fanatics page" stuff. Would be nice to integrate with the Bookstore and AllCanes (both owned by Follett, might be tricky). Would love to see NASCAR-style haulers selling merch as you come in from the north (Bird), south (Miller), or east (Blue, assuming they build a bridge/tunnel for the Palmetto). The simple fact is that most UM merch is sold by (a) Fanatics, (b) Canes Wear, (c) the Bookstore, and (d) AllCanes. Does ANYONE ELSE sell anything of merit? Not adidas. Not Champs/****s/Sports Locker. So we could make a LOT of money on merch, particularly if we flip back to Nike.

Obviously...the bullet points...

---no rent
---small bump in ticket revenue (retain more), after payment of gameday direct expenses (ticket-takers, custodians, etc.)
---big bump in parking revenue, assuming a good negotiaton with county, and after payment of parking attendants
---moderate to decent bump in food/bev revenue, currently non-existent, but dependent on how much is done by UM vs. outsourced/partnered
---merch bump could be significant if we do a nice 360-degree deal that allows us to sell like mo-fos 24-7-365.25 and get high quality merch to people when they want it

If any of those issues or revenue streams change, the situation becomes more challenging, but those are the big elements of revenue and expense. Could there be other possible issues in the future? Personal Seat Licenses? Stadium Naming Rights? In-stadium advertising? Who knows. I would suggest that the County gets the revenue from in-stadium ads, less a commission paid to UM if we sell them ("official UM sponsors, etc.").

And then the GREAT UNKNOWNS would be what the stadium could be used for BY THE COUNTY OR THE RUIZ FAMILY to further monetize the deal. UM would turn the name "Tropical Park" into something famous. Would that swing some concerts? Let's be honest, no musician goes to play Fenway Park BECAUSE OF THE ACOUSTICS. They do it because it is a cool venue. Maybe you book some Jimmy Buffet/Beach Boys concerts (I know, I know, they are old as ****, I'm just using them as an example). Maybe the County or John Ruiz makes some money directly, or Ruiz makes money indirectly with the economic development around the stadium. Who knows.

But the point is, some people are making this argument as if UM is both the SOLE TENANT and PRIMARY EXPENSE of the facility. Who knows? From my vantage point, I only care about 7 blocks of 12 hours each year. The rest of the financial model can be filled in by the Ruiz family and the county.
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i appreciate your time and input, i really do, but some of these assumptions appear to be unrealistic, starting with no payment of rent. time will tell. this is a 7-10 year timeframe, so let's see where it goes. i think the existing lease has a bout a 10 year term, so the timing could be there
 
Hurracanes said:
Life wallet just did a raffle with Cane players selecting winners and literally talked about the stadium plan half way in the raffle. Something tells me these guys are serious about this.
Snoop Dogg Dancing GIF by Romy
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Nobody said they’re not serious. But you have to understand that there’s some major obstacles. Including voter approval.
 
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“
rsa coral gables said:
i appreciate your time and input, i really do, but some of these assumptions appear to be unrealistic, starting with no payment of rent. time will tell. this is a 7-10 year timeframe, so let's see where it goes. i think the existing lease has a bout a 10 year term, so the timing could be there
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I believe the current lease expires in 2032, but I do know it’s 2030 something for sure, i’d have to look it up
 
rsa coral gables said:
i appreciate your time and input, i really do, but some of these assumptions appear to be unrealistic, starting with no payment of rent. time will tell. this is a 7-10 year timeframe, so let's see where it goes. i think the existing lease has a bout a 10 year term, so the timing could be there
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It's not an "assumption", this is what I've heard. Obviously, terms are subject to change. Nothing has been formally proposed, drafted, or signed. But I am equally at a loss to understand why some people are assuming a rent payment, when that is not the intention of the relevant parties.

Again, I was born in St. Louis, so "show me". I'll also believe it when I see the final document. But I do think that some people are making assumptions based on "normal" arm's length type transactions, which is not the case here. I mean, if anyone else knows a billionaire who wants to drop a couple hundred million on a stadium for his alma mater, only to turn around and charge a couple million a year in rent...I mean, I'll take it under consideration, but I've never heard of that.

Unless Trump was involved. He'd probably pledge money to build UPenn a new B-School and then install coin-operated locks on the bathroom doors...

I am also not so delusional to think this will happen in a few years. I believe we will be past the midway point on the remaining lease years before we have any alternative facility to move into.

Construction in Miami always takes longer than was promised.
 
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