The Miami Herald and the Sun-Sentinel are reporting this morning that the Florida Marlins and Miami-Dade County have reached a tentative agreement to finance and construct a new retractable-roof ballpark which would guarantee the health and stability of the franchise for years to come. An announcement is expected on Sunday afternoon.

The Marlins and Miami-Dade Mayor Alex Penelas apparently negotiated the deal over the past few weeks. Miami Mayor Joe Carollo and other community activists were also involved in the negotiations. The Miami-Dade Commission, the Miami City Commission, and state Legislature must approve the deal that provides for a partnership between the team and the county. The county is likely to provide its share of the revenue of the remainder of a hotel tax which will build a performing arts center in Miami. Furthermore, the city will likely donate the land, although it is unclear where the ballpark will be located.

Under this financing plan, the stadium is expected to cost $385 million, will seat 40,000 and open for the 2004 season. The team would change its name to the Miami Marlins.