Jimmy Buffett and Miami Dolphins owner Stephen Ross will hold a press conference today at Dolphins Stadium to announce a new partnership. Buffett has reportedly accepted a business role with the company and the stadium is likely to be renamed Landshark Stadium.

Jimmy will perform a few songs and several high profile sports celebrities will be in attendance.

The event will begin around 10:30 am EDT and will be broadcast on Radio Margaritaville. You might also tune your TV to ESPN or ESPN News as they might be carrying the press conference live.

Update – Watch Jimmy performing live right now at MiamiDolphins.com

The Business of Sports blog at SunSentinel.com has a photo of the logo for the soon-to-be-named Landshark Stadium, which will be announced tomorrow at a press conference with Jimmy Buffett and Miami Dolphins owner Stephen Ross.

Sharp-eyed colleague Ted Hutton, who was covering Thursday’s Marlins-Atlanta Braves game, looked up about an hour after the game ended and saw the Dolphin Stadium scoreboard outfitted with the LandShark Stadium logo. He snapped this photo quickly – when he looked up again, the image was gone. In anticipation of Friday’s press conference in which Jimmy Buffett and Dolphins owner Stephen Ross are to announce a business deal that is to include the branding of the Dolphins’ home as LandShark Stadium for one season, enjoy.

We reported earlier today that Dolphins Stadium in Miami may be renamed Landshark Stadium, and now reports are that Jimmy Buffett has accepted a business role with the NFL team. The naming rights arrangement may include two Jimmy Buffett concerts at the stadium according to the South Florida Business Journal:

Sources close to the deal said Buffett will help pay for the [naming rights] by playing two shows at the stadium at little or no cost. That would allow the Dolphins to cash in on a huge gate, whereas Buffett normally takes the lion’s share – one source said 90 percent – of tickets and concessions for his popular shows.

No details have been released on Buffett’s new role with the Dolphins but a news conference is scheduled for next Friday with Buffett and team owner Stephen Ross, a long-time friend. The news conference will be an “exclusive live music performance and media announcement for a major unveiling on behalf of Dolphin Stadium featuring Jimmy Buffett on May 8th”.

The Miami Herald reports that Dolphins Stadium in Miami will likely complete a naming rights deal with Landshark Lager:

Dolphin Stadium, which has not had a corporate name since 2005, likely will complete a naming rights deal with Landshark Lager, a beer brewed by Anheuser-Busch, the stadium’s president said Friday morning.

The stadium could be renamed Landshark Stadium, though Dolphin Stadium president Bruce Schulze would not confirm the exact likely new name.

”We’ve been in conversations,” Schulze said, declining to comment further.

A second person close to the talks said the sides had discussed a short-term deal, perhaps only for one year or less, but the length remained under discussions. Dolphin Stadium will play host to the Super Bowl next February.

The beer is marketed as part of Jimmy Buffett’s Margaritaville brand. The Miami Herald reported Wednesday that Dolphins and stadium owner Stephen Ross has discussed opening a Margaritaville themed-area inside Dolphin Stadium, and the naming rights deal would fit within that plan.

Ross reportedly has approached Buffett about becoming a minority owner in the team, but Ross had not reached a deal with any minority partners as of earlier in the week, according to an official close to the owner.

Update – When Buffett was asked about it at Monday’s Hawks-Heat game, he said “You’re going to find out real soon. Real soon. It’s going to be great.”

A press conference to announce the deal could be held next week.

According to Armando Salguero of the Miami Herald, Jimmy Buffett might purchase a minority stake in the Miami Dolphins:

Dolphins owner Stephen Ross has called a 4 p.m. “informal meeting” with the media at which he is expected to announce subtle but important changes to the way the Dolphins do business with their fans and media, according to a source close to Ross.

Ross, who has been searching for investors to become minority owners in the team, may unveil some of the names of the people involved on that front.

The source said Thursday afternoon that Ross has been speaking to several people in the entertainment industry. Singer Jimmy Buffett, a Key West resident, and Miami Sound Machine founder Emilio Estefan are among the entertainment people Ross has discussed including in his ownership group.

It is not known if Ross has signed letters of intent or has closed the sale of minority portions of the team with Buffett or Estefan.