• Loading stock data...
Friday, November 8, 2024
DEADLINE EXTENDED: The Best Employers in Sports survey is now open through Nov. 13 Learn More

Inter Miami Playing Defense as Stadium Vote Looms

  • Inter Miami defended its proposed stadium deal against a social media campaign.
  • The team said that the project will be privately funded.
Inter-Miami
Inter Miami

Inter Miami CF is taking its case for a new stadium to the public, revealing the project’s key financials in the process.

Responding to a provocative social media campaign opposing the project, the MLS team, owned by David Beckham and Jorge Mas, outlined key details of Miami Freedom Park, a dedicated soccer stadium and surrounding development. 

In addition to the 25,000-seat stadium, the project calls for 750 hotel rooms, commercial and office space, community fields, and Miami’s largest public park.

According to the team, Miami Freedom Park is expected to be entirely privately funded and would:

  • Provide $6.3 billion in tax revenue for Miami over the life of the 99-year lease.
  • Contribute $2.6 billion in rent.
  • Generate $11 billion in economic activity in its first 30 years.
  • Contribute $25 million to the city’s Parks Department.
  • Directly and indirectly create over 15,000 jobs paying at least $15 per hour.

Marlin Warning

The video opposing the project compares it to the Miami Marlins’ LoanDepot Park, which secured $488 million in public funding, and is narrated with self-conscious irony by former Miami team president David Samson. 

Miami and Miami-Dade County will pay a total of $2.6 billion by 2049, factoring in bond interest.

The video also claims that the land will be rented out below market rate. Miami mayor Francis Suarez countered that the city will reappraise the land before agreeing to the deal.

A city commission will vote on the project on Thursday.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

CFP’s 12-Team Debut: How NIL, Realignment Shape the Bracket

Miami is ranked No. 4 as aggressive NIL spending has no doubt helped the Hurricanes to their 9–0 start.

Lululemon-Fanatics Collab With NHL Sees ‘Explosive’ First-Day Sales

The premium collection made up 80% of all NHL merch sales.
Feb 1, 2024; Toronto, Ontario, CANADA; Team King defender Savannah Harmon (15) scores against Team Kloss goaltender Nicole Hensley (29) during the PWHL 3-on-3 Showcase during NHL All-Star Thursday at Scotiabank Arena.

PWHL Will Add Two Teams in Expansion Move

Possible new sites include Detroit, Pittsburgh, and Quebec City.
Apr 20, 2024; Fort Lauderdale, Florida, USA; Inter Miami CF defender Sergio Busquets (5) celebrates with forward Lionel Messi (10) after scoring a goal against Nashville SC in the first half at Chase Stadium.

Lionel Messi Remains MLS Salary King As Playoffs Begin

Messi’s total 2024 compensation from Inter Miami is $20,446,667.
podcast thumbnail mobile
Front Office Sports Today

Joey Logano Talks NASCAR vs. F1, Pursuing Third Championship

0:00

Featured Today

NFL Center Connor McGovern Is the Heir to a Potato Empire

The NFL vet’s family provides potatoes for McDonald’s, Wendy’s, and others.
Vanderbilt Commodores fans head to the south end zone as the goal post is taken down by exuberant fans after beating No. 1 Alabama 40-35 at Vanderbilt Stadium in Nashville, Tenn., Saturday, Oct. 5, 2024.
opinion
November 2, 2024

Something New in College Football This Year: Parity

Upsets, surprises. CFB is more fun on the field than the NFL.
Sep 28, 2024; Tuscaloosa, Alabama, USA; GOP Presidential candidate Donald Trump waves flanked by former Georgia Bulldogs player Herschel Walker, recording art Kid Rock, professional golfer John Daily, Alabama senators Tommy Tuberville (R) and Katie Britt (R) during the second half of the game between the Alabama Crimson Tide and the Georgia Bulldogs at Bryant-Denny Stadium.
November 1, 2024

Mission Swing State: College Football’s Political Advertising Battle

Trump, Harris, and the PACs that support them are utilizing the sport.
October 31, 2024

The Untapped Revenue ‘Powder Keg’ of Women’s NFL Fandom

There’s a “boatload” of money at stake for brands and the league.

Cubs Agree to Alter Wrigley As Part of DOJ Settlement

The second-oldest MLB ballpark will have to make upgrades again.
November 1, 2024

Inside Cosm’s Plans for a Fourth Location—and Beyond

The downtown Detroit site will add to the city’s sports and entertainment district.
November 1, 2024

Rays’ Future Uncertain As Tropicana Field Repairs Begin

The Rays still don’t know where they will play in 2025.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
October 31, 2024

Florida-Georgia Game Hits the Road Amid $1.4B Stadium Renovation

EverBank Stadium will have reduced capacity in 2026 and be closed in 2027.
Oct 20, 2024; Cleveland, Ohio, USA; Cleveland Browns defensive end Myles Garrett (95) walks off the field after the game against the Cincinnati Bengals at Huntington Bank Field.
October 25, 2024

Browns Sue Cleveland Over ‘Modell Law’ Threatening Suburban Dreams

The Browns want a new stadium, but a law forbids leaving downtown.
October 24, 2024

Packers Agree to Green Bay’s Rent Terms Amid Lambeau Lease Dispute

The team and city have been embroiled in a lease dispute.
Intuit Dome
October 24, 2024

From Restrooms to Tech, Fans Rave About Intuit Dome Despite ‘Hassle’

The Intuit Dome cost $2 billion to build.