Miami Heat and Mayor Reach New Stadium Deal With New $1 Million Rent

Categories: Sports

aaarena560.jpg
Phot by Bob B. Browns via Flickr | CC2.0
In the 14 years of American Airlines Arena, Miami-Dade County has only received $270,000. That's about to change. Mayor Carlos Gimenez and team owner Micky Arison have reportedly reached an agreement that will see the team paying $1 million-a-year to the county's parks department. The agreement will also keep the Heat in the arena until at least 2035.

See also: Miami Heat Wants $121 Million in New Taxpayer Subsidies to Stay at American Airlines Arena

AAA is owned by the county, though the team paid for its construction. The current complicated revenue-sharing system was tilted in favor of the team, with the Heat paying the county no money until last year's $270,000 payment.

According to the Miami Herald, the profit-sharing system would be ended and the team will now "donate" $1 million a year (including a back payment for 2013) to the parks department.

However, the team's county subsidies will also increase under the new deal. The team currently receives a $6.4 million subsidy. That will increase by $2 million between 2031 and 2035.

The city commission must still vote to approve the plan, and Gimenez is rushing to get it before the council before next Tuesday's meeting. Though, several commissioners told the Herald that they question the rush, and don't relish reading the approximately 500-page deal in time for Tuesday's meeting.

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American Airlines Arena

601 Biscayne Blvd., Miami, FL

Category: General

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28 comments
dawnlockwoodsag
dawnlockwoodsag

my roomate's aunt makes $72 /hour on the internet . She has been fired for ten months but last month her pay check was $21737 just working on the internet for a few hours. linked here 

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ecalnews
ecalnews

bs, a contract until 2035? for a million? sucks, in 5 years that million would be less than what they are paying, plus, the Mayor gets lots of bonus for that, end of story. plus, they dont increase by inflation? subsidies? no overtime when raining? no funding of public libraries bc they stole 7 millions from the library funding? seems like a 'pain and gain' story with lots of CORRUPTION. where are the TRAMS the city needs so much, TRAMS that can connect to other cities, oh wait, a SOCCER STADIUM? is MIAMI that stupid, are people in MIAMI that stupid, where is the Police raise, where is the Firefighters raise, the paramedics Raises, the Educators Raise, the fast food workers raise, the working raise, wait, is the MAYOR responsible for its own raise? oh well...

Daniel Saez
Daniel Saez

build a fucking skatepark! Miami-Dade County, Fla.

Andres Arias
Andres Arias

Um that's nice but how about a kicker for the library as well 2 million a year dose not sound bad for the champions

Lamont Ricks
Lamont Ricks

They knock the Old Miami Arena down in 2002.

Jessica Victory
Jessica Victory

How about money for pools!! Great big pools for the community to learn to swim, clubs to train, and the families to enjoy in the summer time. No more kids drowning in pools!

Jo Lamar
Jo Lamar

Now can FL donate to Film Tax Funds or naw?

Rene G. Solis
Rene G. Solis

.Only a million? I know they can do better than that, hell they make close to a billion a yr or more I bet

Anthony Lambert
Anthony Lambert

What's the status of the Miami Arena across the tracks and is Camillas House still there ?

Trevor Gaffney
Trevor Gaffney

Sam why would the Heat pay property taxes? They dont own the arena. It would be nice if they paid rent but our esteemed "leaders" think that would be asking too much

Ariana Hernandez Reguant
Ariana Hernandez Reguant

I dont understand. we the miamians get one million a year, but they get two million back in subsidies?

Sam Wright
Sam Wright

It's the least they can do being that they pay no property tax every year

Gracian L. Casas
Gracian L. Casas

Another Bad deal by the county! Taxpayers are always on the losing end in MIAMI-DADE! We give them enough corporate welfare... They should also help in fixing the surrounding neighborhoods. They can more then afford it.... so maybe another 2 to 3 million dollars...

David Verjano
David Verjano

Christopher Hernandez Look, mo money for the parks!

Franco Rodriguez
Franco Rodriguez

Let me throw a party in there I will give you your million Mr Mayor :D We have done it before

Anthonyvop1
Anthonyvop1 topcommenter

Wait

They will pay a 1 million dollars in rent and ten receive an increase in subsidies from $6.4 Million to $8.4 million?



Keep voting for these Keynesian Jerks you idiots.



sammcandelario
sammcandelario

Start working at home with Google! It's by-far the best job I've had. Last Wednesday I got a brand new BMW since getting a check for $6474 this - 4 weeks past. I began this 8-months ago and immediately was bringing home at least $77 per hour. I work through this link, go to tech tab for work detail...... ,,,,,,,,,  http://www.worktin.com

Johnna Alvarez
Johnna Alvarez

Considering they made over $80 million on the events at AA .......joke!

DrumRollPlease
DrumRollPlease

This contract is over 500 pages.  I bet it is full of clauses in which the taxpayers get shafted.  Same trick federal government does. 

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