Miami Heat Close in on Extension to Miami-Dade County Partnership

NBA franchise the Miami Heat have agreed to extend their partnership with Miami-Dade County for another 10 years, through to 2040.

The deal still needs to be approved by the county’s commissioner and a vote is possible on May 6.

Micky Arison, the managing partner of the Heat said a deal had been reached with Mayor Carlos Gimenez which includes an inflation-adjusted operation subsidy of $147m from the county’s Convention Development Tax fund.

That money would be reinvested into the county-owned AmericanAirlines Arena in downtown Miami where the team plays.

A statement from Arison said: “By any measure, the partnership between the Miami Heat and Miami-Dade County has been a hugely successful one.

“Today, we are committing to keep that success going.

“From the community’s perspective, this extension has already paid for itself and then some,” Arison added, after a report last spring found that the Heat and the arena generate $1.4bn annually for the South Florida economy.

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