


Miami Marine Stadium gets the Yes vote
Since Miami voters voted yes, the city of Miami is going to hire a corporate partner to organize events in the parking lot and generate revenue from ticket sales. Then, they can generate a bond to pay for the structural and architectural repairs to the stadium.
The referendum that was voted today states that the city of Miami would hire an event company to set up a flex park event space to host events and the money from that would go towards the city of Miami being able to secure a bond. The bond could then be used for the stadium renovation. The event company can sell tickets to these events and the city would receive 93% gross sales, 85% sponsorship revenues, and the city would pay the event company a management fee of $33,333 a month to organize events. Global Spectrum a subsidiary of Oak View Group (OVG) is the corporate partner who wants to organize year round events at the site.