Granted To: Joseph A. Garca Grant Date: March 7, 2005 Options Granted: 25,000 Option Price per Share: $10.79 Total Cost to Exercise: $269,750.00 Expiration Date: March 7, 2015, unlessterminated earlier. Vesting Schedule: 50% immediately, 50% first yr asfollows: 12,500 on 03/07/2005 12,500 on 03/07/2006 Transferability: Not transferable except inaccordance with the Plan. Spanish Broadcasting System, Inc. By: /s/ RalAlarcn, Jr. RalAlarcn, Jr.

Exhibit 10.2

March 15, 2005

Joseph A. García
14021 SW 67 Ct.
Miami, FL 33158

Dear Joseph A. García:

Pursuant to the terms and conditions of the Spanish Broadcasting System, Inc. 1999 Stock Option Plan (the “Plan”), and/or your Employment Agreement, if applicable, you have been granted a Nonqualified Stock Option, to purchase 25,000 shares (the “Option”) of Class A common stock as outlined below.

By my signature below, I hereby acknowledge receipt of this Option granted on the date shown above, which has been issued to me under the terms and conditions of the Plan. I further acknowledge receipt of a copy of the Plan and agree to conform to all of the terms and conditions of the Option and the Plan.