What to know about Miami Marine Stadium referendum

Driving the news: Referendum 2 asks whether the city should enter into a 40-year management agreement with Global Spectrum to manage events on the stadium property and pay up to $10 million to restore the venue.

• Although not explicitly in the ballot language, NBC 6 reports that the project would follow a two-phase approach, where Global Spectrum first builds a "flex park" in the stadium's parking area to host events.
• Revenue from those events would help the city secure a bond to fund the full renovation.

Zoom in: If approved, the city would receive 93% of gross sales of all events after deducting a $33,333 monthly management fee.

• The city would also receive 85% of sponsorship revenue.