Sun Life Stadium Renovation

Miami Gardens, Florida

Sun Life Stadium Renovation Project

oSun Life Stadium is located in Miami Gardens, Florida, and is home to the Miami Dolphins, the Miami Hurricanes, and other marquee events

oMiami Dolphins Owner Stephen Ross proposed, contracted, and is almost fully funding a $400M renovation of Sun Life Stadium

oThis renovation project will give the 28 year old stadium, all the modern technology and amenities it needs to measure up to other stadiums and bring in world wide events

oThe stadium will continue to retain the Sun Life name, although once renovations are completed the team will look for a new partner for naming rights

Strategic Move Benefits Fans and FootballoThe familiar orange seats will be replaced with fresh aqua colored seats, in some cases the seats will be padded and wider than the originals

oThe first phase of renovation includes restructuring the lower bowl of the stadium to bring the stands closer to the field and to the action

oThe addition of a canopy roof, which will be completed in 2016, will provide 92 percent of the crowd with cover from sunshine and rain

oAlthough the seating capacity will decrease from 76,018 to 65,326, a larger percentage of seats will be in the lower bowl than in the present stadium

oNew amenities will include a state-of-the-art sound system, huge high-definition video boards, luxury club levels, and better quality concessions

Financial Strong Points for Renovation oMiami Mayor Carlos Gimenez suggests that the renovation project will create 3,400 jobs

oThe Miami Dolphins will receive $4M for every Super Bowl played at the stadium, when completed, through an agreement with Miami-Dade County for hosting major events that boost tourism

oThe Dolphins are also seeking financial assistance from the state through a newly developed sales tax subsidy available for stadium improvements

oThe major key point of the agreement for this renovation project was for Owner Stephen Ross to personally finance $350M of the total construction expenses

New Sun Life Stadium Renovation Renderings

Franchise Motives“We’re really trying to create one of the great sports entertainment facilities in the U.S. today…Everything we’re doing is taking the existing structure that’s there and making it feel and look like it’s a brand-new stadium.” –Miami Dolphins Owner Stephen Ross

“We’re going to be aggressive and try to bring as many marquee events here as we can…The biggest concerts will be here, the biggest events in the world will be here. It really is going to be something to see for everybody in South Florida.” –Miami Dolphins President and CEO Tom Garfinkel

My Analysis oThe Sun Life Stadium renovation project is well financially stable and a highly attractive and bold career move by Miami Dolphins Owner Stephen Ross. With the inclusion of the city of Miami’s funding with the project, in the future years they will radically receive profit from boosts in tourism and in knowledgeable press.

oThe plans for 2015 and future plans of 2016 are well under way and should be completed efficiently (if all goes according to plan) with no lost money on wasted time.

oThe Miami Dolphins franchise is acting quickly and productive and actively progressing getting bids for Super Bowl appearances and other high profile marquee events.

oThere are numerous benefits that this newly remodeled stadium will have on the fan base, the franchise, and the community. By creating thousands of jobs, the franchise will gain more support in those three areas mentioned.

oThis is the right time for the Miami Dolphins to undergo a complete renovation because of the booming city of Miami and also the low profile that the Miami Dolphins and Sun Life Stadium currently hold.

oThis renovation will also benefit the University of Miami and the Hurricanes Athletic Department as they continue to play future seasons of college football at Sun Life Stadium.

Sourceshttp://www.bizjournals.com/southflorida/news/2015/01/20/sun-life-stadium-renovation-begins-renderings.html

http://www.foxsports.com/florida/story/construction-begins-on-improvements-to-sun-life-stadium-062814

http://www.foxsports.com/nfl/story/dolphins-provide-a-look-at-sun-life-stadiums-construction-011615

http://www.miamidolphins.com/multimedia/photo-gallery/DOLPHINS-DARKROOM-Sun-Life-Stadium-Renovation-Renderings/8f3f20f6-b067-433d-b01b-f274f53f830a#bc87241c-6b48-427b-9f34-4b27f6fb99af

http://www.sun-sentinel.com/sports/miami-dolphins/fl-dolphins-stadium-0117-20150116-story.html