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M-I-C- SEE, HEAT SEEKS $$; K-Y- WHY? BECAUSE TEAM NEEDS IT!
Published November 25, 1997
Heat Managing General Partner Micky Arison said that he "expects to take on at least two additional limited partners to increase the team's capital," according to Barry Jackson of the MIAMI HERALD. Arison: "We're losing money, and we have a new arena to finance. The investors will (purchase) additional units of stock." Sources told Jackson that the Arison family owns about 85% of the team, with Raanan Katz, Julio Iglesias, Robert Sturges and Amancio Suarez each limited partners. Jackson: "Arison declined to identify potential new investors, but a source said Philadelphia businessman Sidney Kimmel -- who tried to buy the team in 1993 -- has expressed interest" (MIAMI HERALD, 11/24).