The sale of the Miami Dolphins and Joe Robbie Stadium to H. Wayne Huizenga is imminent and the issue of rights to the stadium's name - long a bump in negotiations between Huizenga and the Robbie family - is expected to be resolved through a compromise, according to a published report.
Under the deal expected to be finalized today, Huizenga won't change the stadium's name for the time being, The Miami Herald reported.But the sports-and-entertainment mogul will have the power to sell the stadium's name to a corporate sponsor at a later date. The stadium will be the site of the Super Bowl on Jan. 29, 1995.
Huizenga, who owns the video retailer Blockbuster Entertainment Corp., can't change the stadium's name to Huizenga or Blockbuster Stadium unless he pays the Robbie Family foundation an undisclosed sum of money, the Herald said, quoting unidentified sources.
The Robbie family wants the stadium to retain its current name as a way of retaining Joe Robbie's legacy. Joe Robbie, who died in 1990 at age 73, founded the Dolphins and built the stadium without any public funds.
The rights to the stadium's name have stalled negotiations between Huizenga and the Robbie family ever since Huizenga made an offer to buy the team earlier this year.
The two sides have settled on a $115 million price for the 85 percent of the Dolphins that Huizenga doesn't already own, the paper said. Huizenga, who already owns 50 percent of the stadium, will also pay $12 million to assume all the debt on it.