Proponents of a public-private partnership that could restore and reopen the historic Miami Marine Stadium on Virginia Key went public this week with a campaign to win voter approval of the proposed deal in August. The City of Miami wants to partner with Global Spectrum to refurbish the waterfront structure, which was built in 1963 as a grandstand for motorboat races. The city would pay Global Spectrum a monthly management fee of $33,333 while collecting 93% of future event revenue and 85% of sponsorship revenue. In return, Global Spectrum would invest up to $10 million to restore the grandstand and its iconic cantilevered roof. The 6,566-seat stadium was tagged in 2009 as one of America’s most endangered historic places by the National Trust for Historic Preservation. The stadium, which once hosted waterfront concerts, has been shuttered since 1992. City of Miami voters will be asked to approve the management contract with Global Spectrum on August 18.
Voters to Decide Fate of Miami Marine Stadium
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