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Special Report

So young, so out of touch with NBA teams

The Miami Heat, San Antonio Spurs and Charlotte Hornets each vacated buildings that they deemed insufficient barely a decade after the arenas opened. The teams sought new venues that would have more suites and generate extra revenue.

Below is a look at the histories of the buildings. All three of the buildings were completely financed with public money, $305.5 million, and all three are publicly owned. By 2002 cities had dedicated $581 million in public money to replace these arenas, including New Orleans Arena, which helped lure the Hornets from Charlotte, and a new arena in Charlotte for the NBA expansion Bobcats.

Miami Arena

Opened: 1988
Cost: $52.5 million
Former tenants: Miami Heat (1988-1999); Florida Panthers (1993-1998); WNBA Miami Sol (2000-2002); University of Miami men’s basketball (1988-2003); AFL Miami Hooters (1993-1995); numerous minor league basketball and hockey teams
Status: Owned and operated by the city’s Miami Sports and Entertainment Authority (MSEA), this is

Miami Arena is considered the poster child for failed arenas.
the poster child for failed arenas. Earlier this year, attendance at WHA2 Miami Manatees minor league hockey home games was so poor — an average of 1,061 per game this season — that the team left in midseason. Late last month, the MSEA voted to sell the venue for at least $25 million, through a probable auction later this year. By selling the 16-year-old arena, city officials could combine the proceeds with reserves to retire the arena’s $35 million debt. A possible deal with New York parking magnate Jacob “Hank” Sopher has been dragging on for at least a year.

Charlotte Coliseum

Opened: 1988
Cost: $58 million
Former/current tenants: Charlotte Hornets (1988-2002); WNBA Charlotte Sting (1997-present); AFL Charlotte Rage (1992-1995); AFL Carolina Cobras (2002-present)
Status: Owned and operated by the city, the building is expected to lose about $1 million this fiscal year, which ends June 30. In January the City Council approved a mixed-use development plan on the 154-acre site. The property is one of several tracts the city hopes to sell to help finance a $265 million arena that’s under construction downtown. The Bobcats and WNBA Sting will play at the coliseum until the new arena opens.

Alamodome

Opened: 1993
Cost: $195 million
Former tenant: San Antonio Spurs (1993-2003). The team wanted a new, smaller arena more suited for basketball.
Status: Owned and operated by the city, debt-free; played host to 2004 NCAA Men’s Final Four basketball championship games.

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