THE MIDDLE EAST PEACE PROCESS HAS NOTHING ON THE HEAT SALE

     A dispute over Israeli taxes is causing some of the problems
in the sale of 40% of the Miami Heat.  Whit Hudson is seeking to
purchase the share of partners Lewis Schaffel and Billy
Cunningham, but not directly.  Instead, Schaffel and Cunningham
would "resell their shares for $60 million to Florida Basketball
Inc., which is the official name of the Heat's general
partnership.  That would give the Arison family complete control
over the team."  The Arisons would then sell "managing control"
of the team to Hudson.  But the deal, set up for tax reasons, has
reportedly generated a dispute between Hudson and Arison.  Since
Marilyn Arison lives in Israel, the sale would be subject to
Israeli taxes.  But Hudson says he agreed to pay U.S. taxes, and
that terms of the sale "do not address Israeli taxes."  The two
also disagree over who pays limited partner Julio Inglesias $2.4M
upon any sale (Alex Marvez, MIAMI HERALD, 12/1).