Let the people make the decision, don't be a dictator and make the decision for all. I truly don't wish to rehash the whole stadium thing again, it is over. This donation by Ross shouldn't have any connection to the stadium issue
Ross donates $200 million to University of Michigan
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dlockz
Hall Of Famer
decisions like this happen every day. I mean we dont even elect the president by peoples decision in reality.
No, don't let it go. Keep at it man, you guys are very entertaining....lol
Ozzy rules!!
dlockz
Hall Of Famer
leave it up to u to say we are not entertaining.
Casas9425
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It does have a connection to the stadium issue. It shows he doesn't give a f**k about this team anymore, IMO. It's probably the first warning shot that he intends to sell the team.
dlockz
Hall Of Famer
I dont think one has to do with other but I could care less if he sold the team. He has been nothing special as an owner to me
ckparrothead
Premium Member
I think there's a lot of white washing going on here.
Steve Ross wanted stadium upgrades that would have benefited him financially. The stadium upgrades would have provided more revenue for him, and would have stabilized the value of the franchise he owns (which has failed to appreciate in the five years he's owned the team, whereas the equities market is up about 80% over the same time period).
Ross argued that the stadium upgrades also would have been a public good because it would have brought Super Bowls to South Florida. Therefore, the public should share in the cost of the upgrades in order to pay for this public good. Steve Ross priced the amount of the public good that the stadium upgrades would have done at about $200 million. That's the amount he wanted the public to pay because it would have been a public good. For him to pay the entire bill of the stadium upgrades, he would have been in essence "donating" $200 million to the city of Miami, in his eyes.
The city and state rejected his bid for public financing. As a result he's giving that $200 million to the University of Michigan.
The Dolphins have an absentee owner who lives in New York and is rarely "in the office" down in Miami, a man who gives more in charitable donations and goodwill to the University of Michigan than to anything connected with the city of Miami, a man who once tried to buy the New York Jets and who owned a USFL team in Philadelphia.
His heart is clearly not in Miami. I'm not saying there's anything wrong with that. It is what it is.
My theory is that with the Dolphins turning out to be such a bad investment, and with his heart clearly not being with the city and with the team, selling his stake in the team to someone else and cutting his losses (or failure to gain anything) is inevitable.
Steve Ross wanted stadium upgrades that would have benefited him financially. The stadium upgrades would have provided more revenue for him, and would have stabilized the value of the franchise he owns (which has failed to appreciate in the five years he's owned the team, whereas the equities market is up about 80% over the same time period).
Ross argued that the stadium upgrades also would have been a public good because it would have brought Super Bowls to South Florida. Therefore, the public should share in the cost of the upgrades in order to pay for this public good. Steve Ross priced the amount of the public good that the stadium upgrades would have done at about $200 million. That's the amount he wanted the public to pay because it would have been a public good. For him to pay the entire bill of the stadium upgrades, he would have been in essence "donating" $200 million to the city of Miami, in his eyes.
The city and state rejected his bid for public financing. As a result he's giving that $200 million to the University of Michigan.
The Dolphins have an absentee owner who lives in New York and is rarely "in the office" down in Miami, a man who gives more in charitable donations and goodwill to the University of Michigan than to anything connected with the city of Miami, a man who once tried to buy the New York Jets and who owned a USFL team in Philadelphia.
His heart is clearly not in Miami. I'm not saying there's anything wrong with that. It is what it is.
My theory is that with the Dolphins turning out to be such a bad investment, and with his heart clearly not being with the city and with the team, selling his stake in the team to someone else and cutting his losses (or failure to gain anything) is inevitable.
So if he donated $200 mill for cancer research what is the difference?
flynryan15
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Yeah I know how it works, but frankly it is a loop hole and should be closed. Ross wants to give money to say the Wounded Warrior Project? Great! But a University that generates more income then large corporations by just the gross receipts of a home football game is not a freaking charity!
As I said earlier in this thread, those who were against the stadium renovations being funded by public money are hypocrites now for telling Ross how he should spend his money. If you don't want him telling you how to spend your money, don't tell him how to spend his.
Edit: Watch the hypocrites no thank this post.
Edit: Watch the hypocrites no thank this post.
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tzjombie
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My sentiments exactly, perfect reply Nub.
I dont think you do actually. The size of an institution is irrelevant when considering its purpose. A charity is a charity, weather you help 10 people or 10,0000.
And its not a loophole, because even though he netted a $70M tax deduction, he still gave away $200M. You don't give away $200 million to save $70 million.
ckparrothead
Premium Member
I think there's a lot of childishness going on in this thread.