Exactly. Unless Ruiz donates the project to the University(Which he likely won't, he's going to want to get something back for his investment), it's pointless. You would just be trading one landlord for another and in both cases, YOU ARE NOT PLAYING IN AN ON CAMPUS FACILITY.
People forget that owning a facility comes with costs that our cheap *** fans won't pay for. It's easy to say "Build a stadium" when you aren't the ones having to fundraise to keep it world class. Keep in mind, Miami fans won't tolerate sitting in some erector set stadium, with second rate amenities. Keeping that stadium(If it ever got built) world class would require a lot of money, and honestly, this fanbase balks at spending money. Maybe Ruiz and the boosters keep stepping up, but as we've seen time and time again, we don't have nearly the booster base that large state schools have. Even then, schools like Alabama aren't having to spend nearly as much on their facilities, mostly because their fans don't give a **** and show up anyway.
The school won't turn down a free stadium, but that is a pie in the sky scenario to begin with. Miami is playing in a world class facility right now, the only thing I would ask the school to do is work with the Dolphins to build a Miami Hurricanes exclusive locker room on premises. I would also work with Ross to have some more Miami signage and historical references in the facility. Maybe a plaza honoring the championship coaches, complete with statues. UMiami football history, is Miami football history and the University and the Dolphins have been tied together for decades....