Bud Paxson, "one of Florida's most influential
broadcasting figures," has been holding talks with Heat
Owner Mickey Arison and "three professional leagues in an
attempt to become a player in the Miami sports scene,"
according to Barry Jackson of the MIAMI HERALD. Paxson is
looking at an AFL and AHL team to play in the Heat's new
arena, starting in '99. He is also eyeing an MLS franchise,
also in '99, that would play in the Orange Bowl. Jackson
reports that sources indicate that Paxson and Arison "have
been discussing a deal in which Paxson would acquire at
least five percent of the Heat. And Arison would have the
option of becoming a minority owner of Paxson's MLS team,
also about five percent." In addition to a minority share
in the Heat, "Paxson would benefit from an alliance with
Arison because Paxson would have a new arena to place two of
his teams and friendly lease terms." Arison would benefit
because "Paxson's teams would generate revenue" at the
Heat's new arena. Arison's "marketing opportunities" would
also increase by joining with Paxson, who owns 43 radio
stations and 47 TV stations. Among Paxson's radio stations
is WIOD, which carries Heat games (MIAMI HERALD, 2/24).
