New Orange Bowl: $206 million ...

[Jim Johnson]

At the risk of starting yet another OCS thread, it's important to recognize the costs involved.

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The City of Miami has unveiled it's proposal for the New Orange Bowl... note that while UM will be the major tenant, it is not an OCS...

Also look at the cost: $206 million.  That is 4 times what UCF and FIU are paying for their erector sets... and there is more financial news in bold at the end of the article.

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A new $206 million proposal to renovate the Orange Bowl would be fully funded, add amenities across the stadium and allow for preservation of the aging venue the Miami Hurricanes have called home for decades.

The proposal from the city of Miami's consultant, Jones Lang LaSalle, unveiled to university officials this week, doesn't count on an up-front contribution from UM but does call for more on the back end than originally proposed and also projects less revenue for the school. The new proposal anticipates UM, which is considering moving its football games to Dolphin Stadium, could earn $2.6 million a year in an upgraded Orange Bowl, down from earlier projections of $3.4 million to $3.6 million.

But where those plans had funding gaps and limited upgrades to the stadium's south side, the new proposal includes luxury suites and club seats on the south side and improved concession stands and restrooms across the stadium.

A UM source said the board of trustees directed UM President Donna Shalala to see whether the city's proposal can be improved before signing off on a move to Dolphin Stadium.

"The Orange Bowl has been a point of orientation for that community for decades ... for the Hurricanes for decades," said John A. Paccione, Jones Lang LaSalle senior vice president. "They get to preserve that point of orientation for the future. There's no dollar figure that can put a value on that. It is irreplaceable."

Miami City Manager Pete Hernandez said he expects a response from UM within a couple of weeks.

The proposal relies on a $50 million Miami-Dade County bond issue, hotel bed taxes and $45 million in historic tax credits. In order to qualify for the federal tax credits the Orange Bowl would need a historic designation. City officials have already begun the process of applying for the designation. Another $73.3 million would be generated by issuing bonds against dollars generated inside the stadium.

UM's contributions from stadium revenue would include $3 per ticket up from its current $1 surcharge; 10 percent of ticket sales; 50 percent of club seat ticket sales; and 100 percent of club suite revenue -- up from 75 percent in the earlier proposals.

UM has a lease at the Orange Bowl through 2009 but could move sooner. If instead UM decides to stay in a renovated Orange Bowl, Hernandez said the city can still afford to help pay for a ballpark for the Marlins.

http://www.sun-sentinel.com/sports/college/hurricanes/sfl-sporangebowl_spec26may26,0,5680184.story?coll=sfla-hurricanes

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[Cubanbull]

I would seriously doubt UM goes for this, from what im hearing from some f their boosters theyll make more money at Dolphin stadium and it is almost a done deal. They have told me that UM has done studies showing that a major part of their alumni is now in the Broward-Palm beach are that would be more willing to drive to dolphin stadium than the OB.

[T-Man]

YOU CAN'T MAKE CHICKEN SALAD OUT OF CHICKEN SH#T!   THAT PLACE IS A STINKING CRIME RIDDEN HOLE!

[E.T.]

And they could keep ticket prices lower than adding on to help the Orange Bowl ... and you WILL get more people coming to Dolphin Stadium because of it being such a nicer place.

Go BULLS !!!

[Joe]

I would seriously doubt UM goes for this, from what im hearing from some f their boosters theyll make more money at Dolphin stadium and it is almost a done deal. They have told me that UM has done studies showing that a major part of their alumni is now in the Broward-Palm beach are that would be more willing to drive to dolphin stadium than the OB.

I heard differently about a week ago. Most the big alumni and boosters are pushing for them to remain in the Orange Bowl. I would be suprised if things don't change.

[bulls96go]

we will beat them wherever they are, whenever we play them!

go bulls!

[USFan]

I would seriously doubt UM goes for this, from what im hearing from some f their boosters theyll make more money at Dolphin stadium and it is almost a done deal. They have told me that UM has done studies showing that a major part of their alumni is now in the Broward-Palm beach are that would be more willing to drive to dolphin stadium than the OB.

I heard differently about a week ago. Most the big alumni and boosters are pushing for them to remain in the Orange Bowl. I would be suprised if things don't change.

No comment, Joe.  

[crambone]

That place is a dump.

It's like Miami used a dirty butt to wipe their dirtier butt, and that is what popped out.

[Guest JulmisteForPrez]

That place is a dump.

It's like Miami used a dirty butt to wipe their dirtier butt, and that is what popped out.

:-? Yeah.........ummmmmm...........

That's disgusting.......no two ways about it.

[bullman3]

Yet the bcs orange bowl will always be played in dolphin stadium, regardless of how much money is pumped into the orange bowl stadium.  Sounds like they should level the old stadium, move into dolphin stadium and use the money more wisely.