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SBD/May 1, 2012/Facilities
Heat Still Not Paying Rent At AmericanAirlines Arena Despite LeBron's Boost To Revenue
Published May 1, 2012
MORE LEBRON IMPACT: Hanks noted James' arrival has "unleashed an explosion in beer sales and ticket revenue, and triggered a huge increase in sponsorship dollars" at the venue. Sales from food and drink are up 78% since the '10-11 season, while revenue from premium seats is up 53%. Because of how Heat Owner Micky Arison “divided up the business as part of the negotiations” with the county, the arena “essentially shares profits on only the premium seats.” The Heat have also jumped from the 15th-best attendance in the NBA to fourth-best this past season. Sponsorship dollars at the arena this season are “budgeted to surge a stunning 80 percent in the course of three years” after reaching a low of $4.2M in '09 (MIAMI HERALD, 4/28).