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.
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.