The Miami Dolphins struck a deal with Hard Rock International, an Orlando based company founded in 1971, to be the official sponsor of Dolphins Stadium. Hard Rock will be the fourth major corporate sponsor to have its name on this stadium. Armando Salguero of the Miami Herald is reporting the deal is for at least 12 years and could be for many more. An official announcement is expected to come out tomorrow.
What does this mean for the Dolphins organization? Well it’s only good news. With the economy in a very slow recovery out of a recession getting corporate money for stadium naming rights has been difficult for many teams in various sports. This 12+ year agreement the Dolphins have with Hard Rock will be a consistent source of income for Stephen Ross and the Dolphins organization. Stability is key in sports and nothing is more important than financial stability. No matter how rich Stephen Ross may be it will help keep the Dolphins organization in a healthy state with a long-term deal with a corporate sponsor.
The Dolphins organization has had many up’s and down’s the past 15-20 years and so has the stadium. They lost a major tenant and their biggest source of income with the Marlins, the stadium has had multiple corporate sponsors, and it has now undergone a major construction renovation. With the $500 million renovation complete and a long-term deal with corporate sponsorship the home of the Dolphins has some stability for many years to come. Hopefully the stability and positive news off the field for the organization starts to carry over on the field for the Miami Dolphins.