The Florida Marlins Major League Baseball Club has been seeking a new stadium here in Miami for years. Having been to a few MLB games where they currently play, Dolphin Stadium, I can understand why they would want their own purpose-built facility. Quite frankly, the experience seemed a bit… lacking, for want of a better term. We seemed too removed from the game, being so far back from the players.
However, while I have enjoyed a few ball games, I am not a regular attendee at the Marlins games, or any other major league sport in this area. Put succinctly, I cannot afford to attend these games on a regular basis. Sure, my family would love to go to every single home game played by the Florida Panthers, but we don’t have the coin to be able to afford even the occasional dalliance.
This leads me to my question: Should the taxpayers of the City of Miami, Miami-Dade County, and the State of Florida foot the bill for a purpose-built facility to host a team of players who make, on average, five times what the average citizen of the locale makes, when that team of players is owned by a multimillionaire? The Miami Herald is reporting that the team may be close to a deal that will allow just that.
I think that the answer to this question should be predicated on a rate of return on this investment that is guaranteed by the club. For example, if the aforementioned people, by way of their government, invest $430 million in a stadium for the ball club, the ball club should turn around and guarantee a return on this investment of a certain, modest, percentage, say 5%, over the next 15-20 years.
I might suggest that the money from this investment return be invested in low- to lower-middle income housing in the area immediately around the area that is being proposed for the stadium site – a notoriously blighted area that was supposed to have been helped by the building of the Miami Arena and American Airlines Arena, former and current homes, respectively, of the National Champion Miami Heat NBA Club.
