Sunday, April 27, 2014

Miami Heat Blackmail's the Public With Ad in the Miami Herald. By Geniusofdespair

Ad in The Miami Herald

This ad with its selective facts and meta message, "We want Miami to be our home, but, we want money (from an ailing county with a short budget) to have that happen." The stupid public once again gets targeted on a Sports Arena without any knowledge of how they are being bilked by THE RICHEST MAN IN FLORIDA, A BILLIONAIRE: Mikey Arison.

Take into consideration After 14 years of profit sharing with the Heat we collected $300,000. $21 thousand a year from the Heat as profit sharing? I pay more in insurance a year.

Here is the Miami Heat deal according to the Miami Herald:

Taking into account the increased subsidies minus the rent the team would pay between now and 2040, the agreement would cost Miami-Dade an additional $121 million through 2040. That’s on top of the $6.4 million the county must pay yearly for the next 15 years under the terms of the 1996 agreement in which Arison financed construction of the $240 million arena. The yearly subsidy would increase to $12 million in 2031 — the first year of the extended lease — and hit $17 million nine years later.

In the ad they talk about guaranteed payments of $26 million. They are asking for $96 million. And I wouldn't trust them with a payment as far as I can throw Lebron James.

Micky Arison according to Forbes Magazine is worth $6.2 Billion dollars and they say the Miami Heat are worth $770 Million. And we get $21 thousand a year and we gave them free land. And they use the soccer field they promised us for parking. Are we rubes or what?


From Forbes:



Anonymous said...

Stadiums are financial losers. Somebody show me otherwise. Give me a study.

Anonymous said...

For who? The billionaire or the county?

Anonymous said...

This is a clear strategy of the best defense is a good offense. However, if anyone digs into the information, even just a little, the financial duplicity becomes offensive. Why the gluttony? Is this deal supposed to position the team for its upcoming sale?

Odovacar said...

Didnt Circus Maximus or the Colliseum produce a profit ?

Gene Lefthand said...

something is wrong with my identity

Anonymous said...

Ok naysayers, let me understand your thinking here:
You love to call Greater Miami a "banana republic" and "third-world", yet here we have something that makes us, "First-world", produces millions in tourism, TV and radio ads, etc. and you criticize it. It's business people! That's how business deals are! And you can't just count on the tangible benefits, there are countless intangibles that have to be taken into consideration.
By the way;
- I respect the value of our libraries and am fighting hard to support them.
- I didn't vote for Gimenez (because I knew what he was really like!) and strongly dislike him
- I don't go to Heat games because I can't afford them.
- I don't support Bell

Anonymous said...

If the arena is their "home", then they should pay for their home improvements like I do for mine. Oh, I forget they do not have to because the exemption comes with having Jorge Luis Lopez and Carlos Gimenez as lobbyists.

Anonymous said...

They screw us because they can. If Gimenez would show some backbone they'd drift away.

Anonymous said...

keep the original agreement and make irresponsible county administrators enforce revenue sharing. if the heat don't like this let them leave. convert arena property for pro-soccer. Heat are not the only game in town.

Anonymous said...

Arison, the owner of the Miami Heat is worth $6+/- Billion. He makes over $21,000 every hour. If Arison was not so greedy he would be an honest partner with his Landlord, the taxpayers of Miami-Dade County. Today, Arison should order the removal of the fence blocking public access to the waterfront.

Anonymous said...

If the county has only received $300,000 in 14 years from the Heat, why isn't the current wretched contract something the Heat wants to keep? There are facts missing.

Is there a belief that once the current players move on between now and 2020 they'll start to lose and then they won't be able to negotiate?

What's the real financial benefits of this preemptive contract when they have such a sweet deal going on?

Seems the subsidies are far more than the cost of upkeep.

What's the maintenance cost of a stadium? How much is spent on repairs and upkeep?

Anonymous said...

Capital needs of the stadium are $160 million. Do they have a time frame for upgrades and repairs in the contract or is that after a hurricane hits it and they claim poverty and ask for contract revisions?

Anonymous said...

The ad states, "we have met and exceeded our obligations in this public-private partnership." Umm, not really. Some of us vividly recall the slick ads promising the soccer parks that would be built adjacent to the stadium.

Anonymous said...

The Heat never paid a penny in rent until last year when people started asking questions. And at the time the Heat was plotting to request a lease extension. Otherwise, the Heat would never had paid the paltry $270,000. Gimenez should act like a man and tell them no.

Anonymous said...

One of their spokes people said the county voters will come out on top.

Anonymous said...

As long as no taxpayer money or publicly owned property is involved, we welcome you to do business here. But don't come here trying to pimp off of one of the poorest communities in the country. And while we are at, we want all of our back rent in a lump sum immediately so we can give it to the library.

Anonymous said...

Good article in the Herald:

A match between Brazil and Honduras drew 71,124 fans to Sun Life Stadium last November, and other exhibitions involving Latin American teams have drawn big crowds.

But “that will not translate to MLS crowds; those fans are coming to watch a flag,” said Tom Mulroy, president of the NASL’s Fort Lauderdale Strikers and also president of a soccer promotions and marketing company for the past 21 years.

“To translate a guy that watches the World Cup to a guy who’s going to come to an MLS game against Columbus on a Wednesday night isn’t the same,” Mulroy said.

The Dolphins ranked 21st in attendance at 64,319 per game last season and played to only 85.8 percent capacity — 30th worst in the NFL and ahead of only Washington and Oakland.

The Marlins ranked 29th, ahead of only Tampa, in attendance last season, at 19,584 per game. This year’s team is playing better and is averaging 21,865, worst in the National League and 25th overall.

The Panthers finished this past season 29th of 30 teams in attendance at 14,177, ahead of only Phoenix.

Those franchises will compete with the soccer team for fans’ ticket dollars, which is less of an issue in markets with only a team or two. Consider this: Of the four highest-drawing MLS markets last season (Seattle, Vancouver, Portland and Montreal), only Seattle has an MLB team, only Vancouver and Montreal have NHL teams and only Portland has an NBA team. So in the MLS’ most successful markets, there’s less competition than there would be in South Florida.

Read more here:

Anonymous said...

Some agreement ... The county shells out $147 million in subsidies to get $26 million in rent. The Heat would pay $500,000 a year in rent. This is a 680,000-square-foot facility. This comes to a whopping SIX CENTS per square foot per month in rent. What are the prevailing rents for waterfront property in downtown Miami?

Anonymous said...

Carlos Gimenez is scared to say no to rich men. Obviously, the current lease is terrible. The new proposed terms might be worse.

youbetcha' said...

I really hate the bs that developers sell to commissioners. zoning boards and city councils. I refuse to believe that all those folks are so stupid that they make these bad deals and step on constituents by accident.

The people agreeing to these deals are either the most ignorant fools on earth (ignorant only in the sense that they can't understand they are being used like toilet paper) OR they are getting more out of the vote/deal than they expose to the public.

Normally, I would not believe that there is corruption in every corner of politics, but, damn, one has to wonder. While being stupid is not illegal, giving and getting something in return is illegal.

Anonymous said...

I resent this. This is not the role of government. Gimenez had to negotiate, but he needs to step up here and do the right things. We have no business being in the stadium business. There are plenty of non-subsidized businesses that play an important role in attracting tourists to this sunshine economy.

I don't resent Arison's wealth. Good for him. However, I do resent subsidizing his wealth. What's your's is your's Mickey and keep your paws off mine!

This is not economic development. This team could be sold and packing up as we speak. Then where would we be? With an empty stadium - which is exactly why we shouldn't be in the sports stadium business.

Anonymous said...

Didn't Carlos Gimenez and Ed Marquez (a pro Marlins lobbyist) learn anything from the Marlins fiasco?

Anonymous said...

Remember the $3 Billion taken from taxpayers to pay for the Marlins Stadium and Garages!