MIAMI - Miami has released Team Beckham's revised terms to build a build a billion-dollar soccer complex at Melreese County Club in response to concerns from city commissioners and residents.
The ownership group, which includes former soccer star David Beckham and businessman Jorge Mas, sought last week to get approval from the Miami City Commission to have voters sign off on the plan to build a soccer stadium, offices and an entertainment complex. However, the commission delayed the vote until Wednesday, saying that more details were needed before moving ahead with the referendum.
The group will now guarantee Miami $3.5 million in annual rent, though paying the greater of either fair market value or five percent of the rental revenue from future business tenants at the complex.
Commissioners wanted revenue sharing and this seems to be the response.
The revised plan calls for no city funding. It was one of the big selling points in the original plan, but now the ownership group pledges it will cover the still-undetermined costs to clean toxic waste of an old dump under the golf course. Expect opponents to question these details when the commission takes up the proposal Wednesday.
The new terms also commit to accommodating the First Tee charitable program for thousands of children, but it also hints at terminating the contracts of those operating Melreese for decades.
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