Boating Industry

January 2017

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Page 13 of 59 INDUSTRY NEWS 14 | Boating Industry | January 2017 The license with Tigé represents the third marine company to agree to license Malibu's surf-related intellectual property, following Correct Craft and Chaparral Boats. In 2015, Malibu filed suit against Master- Craft, alleging that MasterCraft's Gen 2 Surf System and NXT Surf System violate Mali- bu's patent. That case is still pending. Miami approves $45 million plan to restore Marine Stadium The city of Miami will borrow $45 million to restore the historic Miami Marine Stadium. The park and basin surrounding the sta- dium is the home of the Miami International Boat Show. Show organizers have said they hope to someday incorporate a restored sta- dium into the show. The stadium has been closed since being damaged by Hurricane Andrew in 1992. "We are delighted to see plans for the renovation of Miami Marine Stadium pro- ceeding, and proud to have played a role in getting the Stadium renovation project to this point by bringing the Miami Interna- tional Boat Show to this location," NMMA President Thom Dammrich said. "We look forward to the return of boating and other water-related events to this iconic venue." Miami commissioners voted in November to borrow the money to fund a remodel of the stadium, as well as pay for a 35,000-square- foot maritime center. The revamping of the stadium is part of a larger plan the city hopes to undertake to remake Virginia Key, including an earlier plan to redesign, rebuild and run two marinas along the Marine Stadium Basin. Earlier this year, the National Trust for Historic Preservation launched a crowdfund- ing campaign in conjunction with Heineken to raise funds for the restoration. The "Save Your Seat" campaign raised more than $110,000 for the effort. "This is a great day for Miami Marine Sta- dium and for the millions of people in South Florida who love this important place," said Heineken USA CEO Ronald den Elzen. "When we named Miami Marine Stadium a National Treasure in 2012, our goal was to ensure that future generations will be able to experience this remarkable place – one that captures the spirit of South Florida like no other structure." The show also won an important court victory in November when the Third District Court of Appeal upheld a state environmen- tal permit allowing the construction of a tem- porary marina at Virginia Key. "We are pleased this latest challenge is behind us and look forward to yet another exciting Miami International Boat Show at Miami Marine Stadium this February," Dammrich said. "This show has such a far- reaching positive impact — from creating thousands of jobs throughout South Florida to providing hundreds of millions of dollars in economic activity. With lessons learned in 2016, we are going to even greater lengths in 2017 and are thrilled for what the future holds for Miami and boating."

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