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Ruiz stadium update

ssvir said:
Stick to the sneaker game buddy. You're out of your element with real estate transactions.
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Lol; u’re truly a buffoon, did u know that? The fact that u think USC paid $350m ALL out of its own $$ shows how inept & shallow ur knowledge is when it comes to corporate real estate.

Do me a favor, OK buddy ole pal? How about u keep peddling narratives about why HRS is a great stadium for u & The University of Miami, & stop trying to look like an idiot discussing a school u live thousands of miles away from.

I’m literally looking at USC’s financial report laughing my *** off at u. Literally talking to my buddy who just informed me, NASCAR was such a hit at the Coliseum, they are in discussion in using The Coliseum as another, possible, race venue! I mean, it’s not like the Olympics are not going 2 b held here in 2028 w/ the Coliseum as the Mecca. Lol. But wait, there’s more; guess who gets 95% of all of that revenue? That’s right, USC. Hence, many felt USC got away w/ murder securing The Coliseum & the adjacent properties.

I mean it’s not like, I dunno, I actually live out here, & u know, have several connections w/ the school. It’s not even like they haven’t went in-depth about what the renovations meant for the phrase of the day, “revenue streams.”

L-O-L. Hey, keep shining buddy; eventually one of these days u’ll be right; in the meantime, what’s the expression: something about Better to Remain Silent and Be Thought of as a Dumbass than to Speak and Remove All Doubt.

Congratulations 4 removing all doubt; but the silver lining is, instead of confusing u for a jeep driving puckered up ***-hole, now I know u’re…..just an ***. Cheers!!
 
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Rellyrell said:
Lol; u’re truly a buffoon, did u know that? The fact that u think USC paid $350m ALL out of its own $$ shows how inept & shallow ur knowledge is when it comes to corporate real estate.

Do me a favor, OK buddy ole pal? How about u keep peddling narratives about why HRS is a great stadium for u & The University of Miami, & stop trying to look like an idiot discussing a school u live thousands of miles away from.

I’m literally looking at USC’s financial report laughing my *** off at u. Literally talking to my buddy who just informed me, NASCAR was such a hit at the Coliseum, they are in discussion in using The Coliseum as another, possible, race venue! I mean, it’s not like the Olympics are not going held here in 2028 w/ the Coliseum as the Mecca. Lol. But wait, there’s more; guess who gets 95% of all of that revenue? That’s right, USC. Hence, many felt USC got away w/ murder securing The Coliseum & the adjacent properties.

I mean it’s not like, I dunno, I actually live out here, & u know, have several connections w/ the school. It’s not even like they haven’t went in-depth about what the renovations meant for the phrase of the day, “revenue streams.”

L-O-L. Hey, keep shining buddy; eventually one of these days u’ll be right; in the meantime, what’s the expression: something about Better to Remain Silent and Be Thought of as a Dumbass than to Speak and Remove All Doubt.

Congratulations 4 removing all doubt; but the silver lining is, instead of confusing u for a jeep driving puckered up ***-hole, now I know u’re…..just an ***. Cheers!!
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Stick to sneakers or whatever it is you do b/c its pretty easy to see you're a noob regarding real estate development.
 
ssvir said:
Stick to sneakers or whatever it is you do b/c its pretty easy to see you're a noob regarding real estate development.
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If I even gave a **** about you and your sneering arrogance, I would pull the same ****e on you that you are pulling on @Rellyrell .

And I assure you, what I know about the financing, building, maintenance, and tax implications of sports facilities dwarfs your generalized "real estate development" experience.

While you're at it, go look up Internal Revenue Code Section 168(e)(3)(C)(ii) and see if you can figure out the signicance of that one. I'm the guy who wrote the memo that convinced certain Congresspersons to include that provision permanently. Hundreds of millions of dollars of tax benefits were taken under that provision over the past 20 years, and a 7-year IRS audit settlement gave us a $100 million refund going back to the 1990s. While our biggest competitor knuckled under to the IRS and paid what was (unjustly) demanded.

Stick to shopping centers or whatever it is you do, because it's pretty easy to see you're a noob regarding sports facilities.

And show @Rellyrell the respect he deserves.
 
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Rellyrell said:
Lol; u’re truly a buffoon, did u know that? The fact that u think USC paid $350m ALL out of its own $$ shows how inept & shallow ur knowledge is when it comes to corporate real estate.

Do me a favor, OK buddy ole pal? How about u keep peddling narratives about why HRS is a great stadium for u & The University of Miami, & stop trying to look like an idiot discussing a school u live thousands of miles away from.

I’m literally looking at USC’s financial report laughing my *** off at u. Literally talking to my buddy who just informed me, NASCAR was such a hit at the Coliseum, they are in discussion in using The Coliseum as another, possible, race venue! I mean, it’s not like the Olympics are not going held here in 2028 w/ the Coliseum as the Mecca. Lol. But wait, there’s more; guess who gets 95% of all of that revenue? That’s right, USC. Hence, many felt USC got away w/ murder securing The Coliseum & the adjacent properties.

I mean it’s not like, I dunno, I actually live out here, & u know, have several connections w/ the school. It’s not even like they haven’t went in-depth about what the renovations meant for the phrase of the day, “revenue streams.”

L-O-L. Hey, keep shining buddy; eventually one of these days u’ll be right; in the meantime, what’s the expression: something about Better to Remain Silent and Be Thought of as a Dumbass than to Speak and Remove All Doubt.

Congratulations 4 removing all doubt; but the silver lining is, instead of confusing u for a jeep driving puckered up ***-hole, now I know u’re…..just an ***. Cheers!!
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Don’t waste your breath on this, b
He’s not worth your time.
 
TheOriginalCane said:
If I even gave a **** about you and your sneering arrogance, I would pull the same ****e on you that you are pulling on @Rellyrell .

And I assure you, what I know about the financing, building, maintenance, and tax implications of sports facilities dwarfs your generalized "real estate development" experience.

While you're at it, go look up Internal Revenue Code Section 168(e)(3)(C)(ii) and see if you can figure out the signicance of that one. I'm the guy who wrote the memo that convinced certain Congresspersons to include that provision permanently. Hundreds of millions of dollars of tax benefits were taken under that provision over the past 20 years, and a 7-year IRS audit settlement gave us a $100 million refund going back to the 1990s. While our biggest competitor knuckled under to the IRS and paid what was (unjustly) demanded.

Stick to shopping centers or whatever it is you do, because it's pretty easy to see you're a noob regarding sports facilities.

And show @Rellyrell the respect he deserves.
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What’s so weird about this dude’s obsession about USC & the Coliseum is, the ? was about what was the agreement between SC & The State. He then proceeds to bring up SC’s financial commitment of $350m to renno The Coliseum, which I eloquently stated that was their own doing & it had nothing to do w/ the lease terms, b/c SC has been eyeing The Coliseum for decades.

Furthermore, he’s comparing an apples & oranges situation; SC wanted The Coliseum b/c it’s an event stadium. For yrs, The Coliseum have been associated w/ SC, yet SC had nothing to show for it, financially. SC put themselves in a position to create a new revenue stream in which they will use said revenue for other investment opportunities either back into the stadium, the school, AD, etc etc.

This new stadium idea is coming from Ruiz; I mean if the scenario was Miami was in talks of proposing a $350m to renovate The Orange Bowl, I guess I would get his argument. The irony in all of this is he’s been a cheerleader about HRS being a world class stadium b/c of these ancillary events held there, in which Miami is not a beneficiary, yet is trashing SC for investing in The Coliseum to throw ancillary events to garnish revenue for themselves. LMAO.

Annnd, I was on the phone w/ my boy from SC discussing all this. Lol. It just amazes me.
 
It’s always the same posters that ruin these stadium threads because they hate the thought of losing their convenience. Wait until the actual stadium plans come out, they are going to be a loud minority then. It’s going to be a rough 5 years.
 
Rellyrell said:
What’s so weird about this dude’s obsession about USC & the Coliseum is, the ? was about what was the agreement between SC & The State. He then proceeds to bring up SC’s financial commitment of $350m to renno The Coliseum, which I eloquently stated that was their own doing & it had nothing to do w/ the lease terms, b/c SC has been eyeing The Coliseum for decades.

Furthermore, he’s comparing an apples & oranges situation; SC wanted The Coliseum b/c it’s an event stadium. For yrs, The Coliseum have been associated w/ SC, yet SC had nothing to show for it, financially. SC put themselves in a position to create a new revenue stream in which they will use said revenue for other investment opportunities either back into the stadium, the school, AD, etc etc.

This new stadium idea is coming from Ruiz; I mean if the scenario was Miami was in talks of proposing a $350m to renovate The Orange Bowl, I guess I would get his argument. The irony in all of this is he’s been a cheerleader about HRS being a world class stadium b/c of these ancillary events held there, in which Miami is not a beneficiary, yet is trashing SC for investing in The Coliseum to throw ancillary events to garnish revenue for themselves. LMAO.

Annnd, I was on the phone w/ my boy from SC discussing all this. Lol. It just amazes me.
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I agree with you completely. Worked with two USC grads at NASCAR, one a former athlete. They told me the whole history of the stadium, and it was very comparable to decades of problems between the City of Miami and UM over "fake-promised" renovations.

USC has always had the money and the desire to fix up the Coliseum IF LOS ANGELES WOULD ALLOW IT, which they finally did. But then you get some weirdos who try to turn it into some Business School exercise on how to compute "return on investment".

"Oh, how is USC going to get its $350M back?!" Maannnnn, who gives a ****e? USC just wants a beautiful place to bring the alums back 7 times per year, they are not some broke-a$$ university trying to rub two dimes together, as they scheme ways to get their long-lost $350M back.

They also wanted to stabilize the south side and east side of their campus, which has long bordered a...more rough and tumble side of LA. Now, it might be gentrifying today, but that south side and east side of campus borders...what did NWA call it? What was that neighborhood called? South something...South Central?

Oh, and @Rellyrell , please educate these Hard Rock 4-eva Bros on how much parking/tailgating they have for the Coliseum...

All the park-and-tailgate lots are to the south (marked with a T). There are 3 parking structures (garages marked with a G) to the east and west. Many of the alums drop off and set up to tailgate to the north. OH, and is that an MLS soccer stadium there in the corner? How do people get by on such a tiny piece of land with such minimal parking? Oh, that would NEVER work in South Florida...waaaah, waaaah, I drive from Palm Beach County and I want to exit the Turnpike and be grilling within 5 minutes, waaah waaah...

1657889561815.png
 
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I like the proposed design. The proximity to campus also alleviates the parking burden if and when the 16k spaces fill up.

However, I do think there are major bottleneck problems with that many people entering and exiting that garage.


 
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TheOriginalCane said:
I agree with you completely. Worked with two USC grads at NASCAR, one a former athlete. They told me the whole history of the stadium, and it was very comparable to decades of problems between the City of Miami and UM over "fake-promised" renovations.

USC has always had the money and the desire to fix up the Coliseum IF LOS ANGELES WOULD ALLOW IT, which they finally did. But then you get some weirdos who try to turn it into some Business School exercise on how to compute "return on investment".

"Oh, how is USC going to get its $350M back?!" Maannnnn, who gives a ****e? USC just wants a beautiful place to bring the alums back 7 times per year, they are not some broke-a$$ university trying to rub two dimes together, as they scheme ways to get their long-lost $350M back.

They also wanted to stabilize the south side and east side of their campus, which has long bordered a...more rough and tumble side of LA. Now, it might be gentrifying today, but that south side and east side of campus borders...what did NWA call it? What was that neighborhood called? South something...South Central?

Oh, and @Rellyrell , please educate these Hard Rock 4-eva Bros on how much parking/tailgating they have for the Coliseum...

All the park-and-tailgate lots are to the south (marked with a T). There are 3 parking structures (garages marked with a G) to the east and west. Many of the alums drop off and set up to tailgate to the north. OH, and is that an MLS soccer stadium there in the corner? How do people get by on such a tiny piece of land with such minimal parking? Oh, that would NEVER work in South Florida...waaaah, waaaah, I drive from Palm Beach County and I want to exit the Turnpike and be grilling within 5 minutes, waaah waaah...

View attachment 198597
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The difference is that USC was already playing in the Coliseum, not building a new stadium away from the current one. I like the Tropical Park idea, but I can see traffic being an issue on the 826 and without road improvements to feed from the turnpike, there as well. I remember the 45 minute crawl to the parking lot of the old Hollywood Sportatorium, I can imagine this will be similar.

Another thing is the Tropical Park area doesn't need gentrification and there will be significant push back from residents.

Lastly, I seriously doubt the administration will tell alumni and donors from the north who object to pound sand. These things get floated as trial balloons and they'll see how much outrage there is. I'd bet this isn't even on their radar right now. We'll know it is when we see an article saying "UM looking into new stadium option."

Right now, the school has cash flow, but what happens in 15 years when the new stadium needs a renovation? Look at the uphill battle to spend a few million on an IPF. Now imagine we're talking hundreds of millions. There are a lot of good reasons to move, but there are plenty of reasons for caution as well.
 
Rellyrell said:
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
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its from the athletic sourced from the herald.

theathletic.com

Hot Miami Hurricanes topics: New stadium, NIL deals and billionaire booster John Ruiz

Inter Miami's stadium plan is the best shot UM has of playing home games near campus before its deal with the Dolphins expires in 11 years.
theathletic.com theathletic.com

All that said, there are a couple of reasons for Miami to stay at Hard Rock Stadium. For one, Miami’s leadership values its relationship with the Dolphins, who do not charge the Hurricanes rent for using the stadium. They simply split revenue, according to The Herald.
 
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hoops156 said:
its from the athletic sourced from the herald.

theathletic.com

Hot Miami Hurricanes topics: New stadium, NIL deals and billionaire booster John Ruiz

Inter Miami's stadium plan is the best shot UM has of playing home games near campus before its deal with the Dolphins expires in 11 years.
theathletic.com theathletic.com

All that said, there are a couple of reasons for Miami to stay at Hard Rock Stadium. For one, Miami’s leadership values its relationship with the Dolphins, who do not charge the Hurricanes rent for using the stadium. They simply split revenue, according to The Herald.
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can someone confirm this? need a source. also, i tried finding the memorandum of lease, which should be recorded, but couldn't find it. thx
 
Hurracanes said:
It’s always the same posters that ruin these stadium threads because they hate the thought of losing their convenience. Wait until the actual stadium plans come out, they are going to be a loud minority then. It’s going to be a rough 5 years.
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lol its diff. some dont want to lose convenience (which is youre driving every week it is a major concern and one the reasons why the marlins lost a good portion of w.e. fanbase they have left when they moved south).

some are posing the issues that involve the land. the county still owns the land. there is no guarantee the county will vote to let Ruiz have control of the land on a lease to build a stadium. it took inter numerous rejections to finally get approval to build on the melreese site (this is after their other location plans got turned away). I hope it happens though bc it would be nice to have your own stadium but I dont think its the reason we have attendance problem. for those that have never lived in miami, please dont comment on attendance. this is who the city and the area is for all sports teams. we are NOT a sports town no matter how much you guys think we are. we are a EVENT town. we care about that game if its an event and then forget it even happened. its why we can do the Super Bowl really well or the f1 race. we show out big events like the ND game. your reg weekly game against duke unc va etc. will get the same numbers that it always got.

also please stop saying it'll increase student turnout and taking words from dudes who haven't enrolled in 40 years thinking its the same as it was then. there are much younger alums on here that have a better pulse of the student body.
 
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rsa coral gables said:
can someone confirm this? need a source. also, i tried finding the memorandum of lease, which should be recorded, but couldn't find it. thx
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so the thing I could see is the fins do what dade county does with the heat - the heat tech have a rent payment but the county never collects. in exchange, the heat are tasked with doing the maintenance on the arena and upkeep. Samson talks about the. marlins lease w the fins on their pods. ill find the one he mentioned the financial splits in a bit. but w the canes, it could be the fins do not collect rent and just allow for a revenue share
 
@ssvir - while the tenor of the conversation has become more emotional, I actually value the back and forth.

Since I am not in the real estate development world, I think it’s helpful to hear from those that are knowledgeable in this area.

Just for my own personal selfish reason, it would be helpful if everyone could dial it back a bit and let everyone be heard. I want to hear more from your perspective, @ssvir.

@Rellyrell @TheOriginalCane
 
hoops156 said:
so the thing I could see is the fins do what dade county does with the heat - the heat tech have a rent payment but the county never collects. in exchange, the heat are tasked with doing the maintenance on the arena and upkeep. Samson talks about the. marlins lease w the fins on their pods. ill find the one he mentioned the financial splits in a bit. but w the canes, it could be the fins do not collect rent and just allow for a revenue share
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given that they would use the stadium 6-7 a year, i don't see the Canes undertaking the responsibility of maintaining and operating a stadium. in a typical structure, that obligation would fall on the developer (ruiz). in addition, nor would Ruiz want it either since he wants to enjoy all of the benefits of the stadium and you cannot divorce the benefits from the obligations.
 
rsa coral gables said:
given that they would use the stadium 6-7 a year, i don't see the Canes undertaking the responsibility of maintaining and operating a stadium. in a typical structure, that obligation would fall on the developer (ruiz). in addition, nor would Ruiz want it either since he wants to enjoy all of the benefits of the stadium and you cannot divorce the benefits from the obligations.
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I dont see the canes doing that either. if thats what the canes have to do, id say stay where you are. maintenance isnt cheap esp as you try to upgrade a facility. I could only see this working out if Ruiz puts up all the costs on the upgrades/maintenance the same way the fins do w HRS. ross makes money from the events he has at HRS, the fins itself, and the tenants at HRS. the fins revenue is likely a big thing for ross. Ruiz doesn't have the luxury of a sports team generating dollars. either way, if Ruiz is down and promises to maintain it, im down
 
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