Ruiz stadium update

[TheOriginalCane]

In the end it always becomes an ROI exercise.

Not if you want your money on a building bad enough. There has never been one single ROI exercise that has come back positive on that. Now, an EGO exercise, that's different...

 

[rsa coral gables]

Not if you want your money on a building bad enough. There has never been one single ROI exercise that has come back positive on that. Now, an EGO exercise, that's different...

this isn´t a donation in exchange for name on a building.

 

[hoops156]

I know they are building the soccer stadium, but it will likely not be used as much as an events venue. Not many of the "soccer-only" MLS stadiums are.

Everyone keeps analyzing this as some sort of ROI exercise. Jose and Juan have money to burn and they love UM.

It’s an roi exercise. No one does anything bc they love something esp at this cost.

 

[hoops156]

It’s an roi exercise. No one does anything bc they love something esp at this cost.

Also their plan w the stadium has very little to do w the stadium. It’s more of the other stuff they plan on adding on that land that are revenue generators (I think they want bars restaurants hotel etc) which will do well bc how close it is to a major airport w very little else in the surrounding area. The stadium is a bonus essentially.

 

[3GC]

Y

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?

You left out Home field advantage.
An incalculable value..

 

[rsa coral gables]

Also their plan w the stadium has very little to do w the stadium. It’s more of the other stuff they plan on adding on that land that are revenue generators (I think they want bars restaurants hotel etc). The stadium is a bonus essentially.

much like the Inter Miami deal, the stadium is a pre-text for the other development, which offsets the costs of the stadium. no "other stuff" no stadium

 

[rsa coral gables]

Y

You left out Home field advantage.
An incalculable value..

we don't have home field advantage now?

 

[3GC]

we don't have home field advantage now?

Sure, VaTech & ND in 2017..

 

[hoops156]

Sure, VaTech & ND in 2017..

Holy. It’s not gonna change just bc you moved south. We had terrible ******* crowds at the ob too. It wasn’t sec or b10 full in the ob either. The crowd will never change their behavior. Big games = big crowds. Being good = better crowds, but you can be elite and you’ll still have half filled stadiums for at least half of the home slate. The fans come from all over and will drive to wherever the stadium is. They did for the ob and they do for hrs and they will for the next home. The crowd itself won’t change though. You won’t have more fans bc you moved south. We’ve seen this proven for the last 50 years w every sports team in town. The marlins made the same mistake thinking they’ll get better fans moving south and they were wrong. They lost fans which won’t happen here bc ownership of the marlins is never trusted and it isn’t a good baseball market unless the team is in the playoffs which is a big game or event which will draw fans. Even the 03 year, they only got large crowds during the playoffs. They were dead *** empty the rest of the year outside of the dontrelle statrts

 

[ssvir]

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.

I absolutely do think HRS is an amazing venue. If Ruiz wants to build a stadium more power to him but its going to cost $1B to build a stadium with similar attributes to HRS. As a CFP (Certified Financial Planner) for 15 years and a real estate private equity manager for another 15 years my opinion is that is a waste of resources and a poor ROI for the university.

I actually graduated in Finance from UM, attended nearly every game at the OB/HRS in the last 30 years, have had season tickets for 25+ years, donate significant money annually to the school and athletic department, and live in South FL ..... I'm not in my 20s or 30s living 3,000 miles away in LA, having never attended a game in the remodeled HRS.

YOU are the one consistently bringing up the LA Coliseum and USC as an example for why a stadium at Tropical Park is a windfall for the university. You make statements of fact w/o knowing what the actual facts are ... my bad I forgot you talked to "your boy" at USC who I'm sure is the CFO or attorney that worked on the contracts and knows the actual financials and terms and regularly discusses them with you.

In 15 years both HRS and this new Tropical Park stadium are going to once again need hundreds of millions in improvements and I would rather the Dolphins ownership be on the hook than a loose collective of UM donors and Miami-Dade county.

In summary, I remember when I was young and thought I knew everything like you.

 

[TheOriginalCane]

this isn´t a donation in exchange for name on a building.

It largely is, when the primary ongoing revenues are ADJACENT development. Which is what is being described at both Melreese and Tropical.

Might things change, possibly. I'll wait for the final plans to be made known. But at the current moment, people are losing the thread on the STADIUM component over a fruitless quest for an ROI calculation.

 

[TheOriginalCane]

It’s an roi exercise. No one does anything bc they love something esp at this cost.

Wrong on so many levels.

And there will be ROI on other components of development. Nobody has ever denied that or hidden that, regardless of Billy Corben's salacious podcasts.

 

[TheOriginalCane]

much like the Inter Miami deal, the stadium is a pre-text for the other development, which offsets the costs of the stadium. no "other stuff" no stadium

The story of real estate development for hundreds of years...

I would also point out that very few stadiums, standing all by themselves, are good economic investments for ANYONE under ANY circumstances.

All of the successful modern stadiums are integrated into a wider range of economic impact activities, such as dining, retail, entertainment, and housing.

We should not act as if this is some sort of shameful secret.

 

[ssvir]

The USC renovations (especially the loge boxes, new club seats and new 1923 club) created a ton of corporate (game day AND non-game day) revenue opportunities, private event revenue opportunities (meeting space, weddings, etc) and paid sponsorship/branding rights/naming rights for said spaces. Not to mention that the improved stadium will help increase direct and ancillary game-day revenues because the fan experience (new seats, cup holders, more leg room, improved concessions, wifi and improved tech) will be better. I know they sold the plaza and press box naming rights, and didn't United Airlines buy the overall naming rights? United Airlines field @ LA Coliseum or whatever?

Personally I see a pretty clear path to re-coup and long-term profitable revenue streams. The NASCAR money alone will pay a nice chunk of the note.

I believe NASCAR paid $1M in rent and then NASCAR kept all of the revenues. The same is happening for the Olympics .... rent and keep revenues. The UA naming rights (roughly $4M per year) has been held up last I read b/c its the LA "War Memorial" Coliseum and some portion of the population doesn't want a corporate sponsor to change the name.

They will never recoup their INITIAL $350M investment and continued maintenance requirements though there are definitely ancillary benefits as some have pointed out that create revenues outside of the actual game operations (ie: alumni gathering and feeling a sense of community and making greater donations though it could also be argued that success on the field is really all that matters).

 

[TheOriginalCane]

I believe NASCAR paid $1M in rent and then NASCAR kept all of the revenues. The same is happening for the Olympics .... rent and keep revenues. The UA naming rights (roughly $4M per year) has been held up last I read b/c its the LA "War Memorial" Coliseum and some portion of the population doesn't want a corporate sponsor to change the name.

They will never recoup their INITIAL $350M investment and continued maintenance requirements though there are definitely ancillary benefits as some have pointed out that create revenues outside of the actual game operations (ie: alumni gathering and feeling a sense of community and making greater donations) though it could also be argued that success on the field is really all that matters).

The $350M wasn't an "investment". It really can't get any simpler than that.

 

[rsa coral gables]

Sure, VaTech & ND in 2017..

how does a stadium at tropical provide home field advantage?

 

[Rellyrell]

I absolutely do think HRS is an amazing venue. If Ruiz wants to build a stadium more power to him but its going to cost $1B to build a stadium with similar attributes to HRS. As a CFP (Certified Financial Planner) for 15 years and a real estate private equity manager for another 15 years my opinion is that is a waste of resources and a poor ROI for the university.

I actually graduated in Finance from UM, attended nearly every game at the OB/HRS in the last 30 years, have had season tickets for 25+ years, donate significant money annually to the school and athletic department, and live in South FL ..... I'm not in my 20s or 30s living 3,000 miles away in LA, having never attended a game in the remodeled HRS.

YOU are the one consistently bringing up the LA Coliseum and USC as an example for why a stadium at Tropical Park is a windfall for the university. You make statements of fact w/o knowing what the actual facts are ... my bad I forgot you talked to "your boy" at USC who I'm sure is the CFO or attorney that worked on the contracts and knows the actual financials and terms and regularly discusses them with you.

In 15 years both HRS and this new Tropical Park stadium are going to once again need hundreds of millions in improvements and I would rather the Dolphins ownership be on the hook than a loose collective of UM donors and Miami-Dade county.

In summary, I remember when I was young and thought I knew everything like you.

Bravo; do u think that little toot of ur personal flute meant a **** thing in this discussion? Do u think posting “what u do & where u graduated from” made u less qualified as an ***? Degrees ≠ intelligence. The fact is u don’t know me, u don’t know what I do, who I know, my status in life, yet u continue to make comments as if somehow u know me. This guy says, “but, but, I have a Miami Degree, I’m a CFP, & I love HRS.” Bytch, no one gives af about all that. LMAO

Allow me to refresh ur memory of y USC came up in this scenario, since maybe early onset dementia may be settling in: The whole point was IF Miami can become an operating partner & how they could “potentially” benefit. USC was brought up as an example, b/c they are both an operating partner AND benefiting from being such.

The question came up as to HOW that relationship work, & I gave a FACTUAL answer regarding the lease agreement between The State & SC. Ur *** decided to throw in a variable that had NOTHING to do w/ the conversation I was having w/ another poster. Somehow, u thought u checked mated me by saying how I “conveniently” left out that USC paid $350m for the renno. My rebuttal to u was, I did not conveniently leave out anything b/c that wasn’t the discussion. I proceeded to explain to u WHY USC MADE THAT COMMITMENT & outlined their history & view of The Coliseum.

Despite the fact u continuously ignore THE REASON Y, u’re harping on the $$ figure. Talk about someone claiming to make a “factual statement” Mr CFP said USC would “never” recoup that amount of investment. That statement alone let’s me know w/e u think u know about financial planning, what ever real estate knowledge u think u have is moot.

But check it out, I’ll let u continue to think or feel what u want. Do me a favor, take ur own advice & stay in ur lane, whatever lane that is. Again, ur best bet on this particular subject is to continue to suck off HRS.

 

[scrantoncane]

Who freakin' tailgates before a Metallica concert?

Who doesn’t?

 

[Rickd]

The biggest reason for a stadium ... UM's own stadium ... is the long term security of a high quality venue for UM. Like somebody pointed out earlier ... Ross is 80 years old and UM provides little financial impact on the overall Hardrock Stadium business. He has been good to UM. Will a new owner? Nobody knows. Having "their own" 60,000 - 65,000 stadium with a decent amount of parking, a stadium built FOR football, with high quality amenities, would be an outstanding plus for the PROGRAM and for UM. I drive 275 miles each way and generally get a hotel for the night of game day. So, I will just leave an hour earlier, and drive 300 miles, to ensure getting there early enough to get a parking space. Hope it happens ... love my Club Seats at Hard Rock ... hope they DO HAVE Club seats at UM Stadium. Chance of it actually happening? No idea .. 20%? Higher?

 

[ssvir]

Bravo; do u think that little toot of ur personal flute meant a **** thing in this discussion? Do u think posting “what u do & where u graduated from” made u less qualified as an ***? Degrees ≠ intelligence. The fact is u don’t know me, u don’t know what I do, who I know, my status in life, yet u continue to make comments as if somehow u know me. This guy says, “but, but, I have a Miami Degree, I’m a CFP, & I love HRS.” Bytch, no one gives af about all that. LMAO

Allow me to refresh ur memory of y USC came up in this scenario, since maybe early onset dementia may be settling in: The whole point was IF Miami can become an operating partner & how they could “potentially” benefit. USC was brought up as an example, b/c they are both an operating partner AND benefiting from being such.

The question came up as to HOW that relationship work, & I gave a FACTUAL answer regarding the lease agreement between The State & SC. Ur *** decided to throw in a variable that had NOTHING to do w/ the conversation I was having w/ another poster. Somehow, u thought u checked mated me by saying how I “conveniently” left out that USC paid $350m for the renno. My rebuttal to u was, I did not conveniently leave out anything b/c that wasn’t the discussion. I proceeded to explain to u WHY USC MADE THAT COMMITMENT & outlined their history & view of The Coliseum.

Despite the fact u continuously ignore THE REASON Y, u’re harping on the $$ figure. Talk about someone claiming to make a “factual statement” Mr CFP said USC would “never” recoup that amount of investment. That statement alone let’s me know w/e u think u know about financial planning, what ever real estate knowledge u think u have is moot.

But check it out, I’ll let u continue to think or feel what u want. Do me a favor, take ur own advice & stay in ur lane, whatever lane that is. Again, ur best bet on this particular subject is to continue to suck off HRS.

Just a weird post of nonsensical thoughts.

I get it though ... when you don't have the education nor experience you have to resort to talking about "your boy at USC told me blah blah blah" and calling someone a "bytch" and whatever odd **** you spouted off in the last two weeks about "riding around in Jeeps with ******".

I'm just putting you on ignore since you add zero value to the discussion.