Phase I will begin immediately and include a remodeled club-level and the addition of luxury suites, new updated scoreboards, covered exhibition space in an existing ground-level parking space that would be event-ready and also serve as an additional parking structure adjacent to the stadium, and relocation of the Dolphins' business office to the stadium. Better traffic flow and pedestrian access is also a part of this phase, which is expected to cost between $100 million and $125 million.

Phase II cannot begin until the Marlins relocate, which Huizenga says he expects to occur after three years, even though the team can stay until 2010. A roof, permanent or retractable, is at the heart of this phase, which will include expansion of the stadium concourses, additional seating capacity, expanded exhibition space and parking structures, and upgraded press capabilities, including video studios and fiber optics and satellite communications.

It could include retail shops, restaurants and entertainment areas in a Main Street format, Huizenga said at a press conference. Asked whether another entity, such as a retail developer, might participate in the retail/entertainment development, he said, "sure, if someone with experience could do it better than we can, we'd talk to them." Construction for this phase is estimated at between $200 million and $300 million. A permanent roof would cost $100 million, while the cost for a retractable one is estimated at $125 million.

No cost estimates were provided for Phase III, which he said, "is way down the road." Plans under consideration are designed to provide economic stimulation to South Florida and increase the tax base. Among the proposals are a mixed-use development that includes an office complex, a hotel and additional retail, restaurants, and entertainment areas in a Main Street format, plus a Hall of Fame.

A new organization, Dolphins Enterprises LLC, was formed as an umbrella for all of the Huizenga sports and entertainment enterprises, including sport, business and stadium operations; stadium development and construction, stadium events and exhibitions, sales and marketing, and retail and merchandising. A new CEO will be named soon, Huizenga said.

Construction plans are "fluid," he acknowledged, "and there's no rendering. But, we've been in discussions about this for a long time." The timing of the announcement, he said, was to prevent leaks of potentially erroneous information. Questioned about the cost, he reiterated that funding would be private. "Ticket prices go up every year because players' salaries go up every year, but fans will not be funding this project."

In mid-December, Huizenga, who had a 98% interest in Boca Resorts Inc., sold the five-property portfolio to Blackstone Group for $1.3 billion. Previously he founded and later sold Blockbuster Entertainment and AutoNation.