(Forbes) – Bringing in $247 million in revenue last year, the Dolphins took two key steps to improve their finances during the off-season. The team sold the naming rights to their stadium to insurer Sun Life for $4 million a year (an additional $1.5 million a year from the deal is paid to charities), replacing the temporary, soft-dollar deal it had with Jimmy Buffett’s Land Shark Lager. More importantly, the Dolphins refinanced $235 million of stadium debt in a deal that includes a $159 million letter of credit that backs taxable municipal bonds sold through a government conduit but for which the stadium corporation is responsible. The deal, arranged by Goldman Sachs, contains a credit reserve that is significantly bigger than it otherwise would have been to account for the possibility of a work stoppage in 2011.
Preseason TV – WFOR
Radio – WBGG-FM, WINZ-AM, WQBA-AM
National TV ratings rank – 9 26
Sport – $646 mil
Market – $166 mil
Stadium – $143 mil
Brand Management – $57 mil
Naming rights sponsor is: Sun Life Financial (nyse: SLF).
So in short. They’re worth one….bill…ion…dollars…