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(CNBC)   Miami Heat owner expects team to lose money this year; not $1 million, not $2 million, not $3 million   (cnbc.com) divider line 40
    More: Fail, Miami Heat, AmericanAirlines Arena, Micky Arison, Carnival Cruise Lines, revenue sharing  
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2148 clicks; posted to Sports » on 02 Jul 2012 at 6:22 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-07-02 05:41:01 PM  
"The reality is we're not a big market team," Arison told CNBC. "Minnesota is a larger market than Miami."

Aaaand that's where I realized why this guy is losing money. The entire STATE of Minnesota doesn't have more people than South Florida. South Florida, in fact, is the eighth-largest metropolitan area in the United States, bigger than thirty of the fifty US states. If you can't do this math, how are you supposed to run a farking business??
 
2012-07-02 05:42:37 PM  
I'm sure he wouldn't mind opening his books to let someone independently verify that.
 
2012-07-02 06:26:35 PM  
Can we combine the Fail and Stupid tags? Because that news has to be the stupidest fail I've seen in a while.
 
2012-07-02 06:29:35 PM  

eddievercetti: Can we combine the Fail and Stupid tags? Because that news has to be the stupidest fail I've seen in a while.


Isn't that what the Florida tag is for?
 
2012-07-02 06:35:18 PM  
I always assumed that was the reality of sports teams? Only the biggest can both make money and compete for a title? I thought everyone else had to make the choice between the two most seasons?
 
2012-07-02 06:36:07 PM  
Any good accountant can make it look like a sports team loses money. This is hardly news.
 
2012-07-02 06:39:29 PM  

FriarReb98: "The reality is we're not a big market team," Arison told CNBC. "Minnesota is a larger market than Miami."

Aaaand that's where I realized why this guy is losing money. The entire STATE of Minnesota doesn't have more people than South Florida. South Florida, in fact, is the eighth-largest metropolitan area in the United States, bigger than thirty of the fifty US states. If you can't do this math, how are you supposed to run a farking business??


or he knows all of that and is simply lying to look better

either way Florida tag is needed
 
2012-07-02 06:42:02 PM  
I can sorta believe that their attendance is shiat. Look at the Jacksonville Jaguars. If you're in a beautiful State with lots of things going on. A football game may not be the most exciting thing to go see or do.
 
2012-07-02 06:47:09 PM  

HellRaisingHoosier: I can sorta believe that their attendance is shiat. Look at the Jacksonville Jaguars. If you're in a beautiful State with lots of things going on. A football game may not be the most exciting thing to go see or do.


It says in the article that they sold out for a second straight season.
 
2012-07-02 06:51:45 PM  
Tax fraud
 
2012-07-02 07:19:27 PM  
Glad to hear that the good people of Miami signed off on a deal where the ceo of a cruise line gets his toy subsidized to the tune of zero dollar lease payments. It's really hard to get more boot strappy than that.
 
2012-07-02 07:20:47 PM  
They were fourth in the league in attendance this year, but their $67 average ticket is $23 less than the average Lakers ticket and $50 more than the average Knicks ticket, according to Team Marketing Report.

Knicks average ticket price is $17? That doesn't sound right. Unless the arena is 90% shiat seating and 10% luxury boxes.
 
2012-07-02 07:22:25 PM  

FreetardoRivera: or he knows all of that and is simply lying to look better


That too, of course.
 
2012-07-02 07:25:07 PM  
Doesn't the luxury tax this up comming season go from matching Dollar to dollar to actually doubling. 20 million over 40 million tax? So yeah I could see...but I do not believes it.
 
2012-07-02 07:27:07 PM  
Let me guess, all of the affiliate entities (parking, concessions, licensing and tv) made a profit.

Didn't Deadspin already prove that professional sports accounting is about as trustworthy as Hollywood accounting.
 
2012-07-02 07:27:39 PM  
Yes, Arison lost $6 million this year.
He expects to lost another $6 million next year.
And he expects to lose another $6 million the following year.
At that rate he will have to close the franchise in 1,000 years.
 
2012-07-02 07:30:17 PM  

robbiex0r: Any good accountant can make it look like a sports team loses money. This is hardly news.


/thread
 
2012-07-02 07:31:28 PM  

HellRaisingHoosier: I can sorta believe that their attendance is shiat. Look at the Jacksonville Jaguars. If you're in a beautiful State with lots of things going on. A football game may not be the most exciting thing to go see or do.


Is there a lot going on in Jacksonville?
 
2012-07-02 07:34:49 PM  

HellRaisingHoosier: I can sorta believe that their attendance is shiat. Look at the Jacksonville Jaguars. If you're in a beautiful State with lots of things going on. A football game may not be the most exciting thing to go see or do.


Or just that Floridians are notoriously fickle sports fans with a metric buttload of excuses always at hand.
 
2012-07-02 07:45:07 PM  
So every cloud does have a silver lining!
 
2012-07-02 07:49:11 PM  

AliceBToklasLives: Yes, Arison lost $6 million this year.
He expects to lost another $6 million next year.
And he expects to lose another $6 million the following year.


Then he'll sell the team for a 150 million profit at some point. I have to wonder why anyone believes a word these guys say. They all lose money hand over fist but somehow their investment keeps growing in value. What an odd trick they have developed.
 
2012-07-02 07:57:11 PM  

theurge14: HellRaisingHoosier: I can sorta believe that their attendance is shiat. Look at the Jacksonville Jaguars. If you're in a beautiful State with lots of things going on. A football game may not be the most exciting thing to go see or do.

Or just that Floridians are notoriously fickle sports fans with a metric buttload of excuses always at hand.


and even then, the "so many other things to do " line applies to southern and central Florida.

Northern Florida is meh at best.
 
2012-07-02 08:05:12 PM  
Specifically about baseball, but still think it applies:

"You go through The Sporting News for the last 100 years and you will find two things are always true: you never have enough pitching and nobody ever made money."- Donald Fehr, executive director, MLBPA
 
2012-07-02 08:32:00 PM  

senorpogo: Specifically about baseball, but still think it applies:

"You go through The Sporting News for the last 100 years and you will find two things are always true: you never have enough pitching and nobody ever made money."- Donald Fehr, executive director, MLBPA


That's why I can't understand why some of these idiot owners trying to run a sports franchise like it's a business. Even if you have some of the best stars on your team AND your team is highly recognized, you'll still lose money.

You have to run a franchise along the lines of being passionate about it more than making a buck out of it.
 
2012-07-02 08:36:38 PM  

theurge14: HellRaisingHoosier: I can sorta believe that their attendance is shiat. Look at the Jacksonville Jaguars. If you're in a beautiful State with lots of things going on. A football game may not be the most exciting thing to go see or do.

Or just that Floridians are notoriously fickle sports fans with a metric buttload of excuses always at hand.


According to the article, they're 4th in attendance.
 
2012-07-02 08:54:57 PM  

pion: theurge14: HellRaisingHoosier: I can sorta believe that their attendance is shiat. Look at the Jacksonville Jaguars. If you're in a beautiful State with lots of things going on. A football game may not be the most exciting thing to go see or do.

Or just that Floridians are notoriously fickle sports fans with a metric buttload of excuses always at hand.

According to the article, they're 4th in attendance.


Congrats to them. A city of 2.5 million with a championship team was able to come in 4th place for filling an arena that seats 19,500.

Point still stands for the Jaguars and just about every other team in any sport in that state.
 
2012-07-02 09:11:42 PM  

JerseyTim: I'm sure he wouldn't mind opening his books to let someone independently verify that.

 
2012-07-02 09:30:40 PM  
The Heat are rumored to be signing an 80 million a year regional sports contract soon. I'm sure they will still be "losing" money after that is done as well.
 
2012-07-02 09:48:18 PM  

theurge14: Congrats to them. A city of 2.5 million with a championship team was able to come in 4th place for filling an arena that seats 19,500.

Point still stands for the Jaguars and just about every other team in any sport in that state.



Way to miss my point that the issue is not attendance numbers. Their arena is bigger than the Celtics' and the Lakers' arenas. From looking at the article, my guess is that their TV rights deal is pretty low-ball.
 
2012-07-02 10:24:45 PM  
Came for the farking tiny violin picture and it wasn't farking posted. Well I'm farking playing my farking tiny violin for the farking Heat's owner over here.
 
2012-07-02 10:30:23 PM  

logggur: JerseyTim: I'm sure he wouldn't mind opening his books to let someone independently verify that.


As someone who sees a lot of people wearing Heat stuff here in New England, I, too, would like to see this.

/These are the same people who also tend to wear Yankees' stuff and yet cannot name a player that is not A-Rod
//Oddly enough, they cannot name a player that isn't James, Wade, or Bosh.
 
2012-07-02 11:36:18 PM  
Makes one wonder which one has the more "creative" accounting: Team Owners or Movie Studios.
 
2012-07-03 07:04:55 AM  

Young Rory Calhoun: I always assumed that was the reality of sports teams? Only the biggest can both make money and compete for a title? I thought everyone else had to make the choice between the two most seasons?


Indeed. Just look at what a fiasco pro football has been in Green Bay.

If you can't make money on a championship team in a major metro area like Miami, you need to sell the team to someone who isn't an idiot.
 
2012-07-03 07:14:19 AM  

theurge14: pion: theurge14: HellRaisingHoosier: I can sorta believe that their attendance is shiat. Look at the Jacksonville Jaguars. If you're in a beautiful State with lots of things going on. A football game may not be the most exciting thing to go see or do.

Or just that Floridians are notoriously fickle sports fans with a metric buttload of excuses always at hand.

According to the article, they're 4th in attendance.

Congrats to them. A city of 2.5 million with a championship team was able to come in 4th place for filling an arena that seats 19,500.

Point still stands for the Jaguars and just about every other team in any sport in that state.


There's truth to this. I say this having grown up in West Palm:

Florida is very regionalized as sports go. I suspect most people in Jax are either FSU or UF fans and couldn't care less about the Jags. It's a college football town. Always has been.

South Florida is more pro-sports territory (although still with the UF and FSU fandom), but the only team with any real history there is the Dolphins, who haven't been any good for a long time. But when the Fins are good (not even great, just fairly good), attendance is solid.

The Marlins, Panthers and Heat are all still pretty new as pro teams go. There aren't any great emotional ties.

All that said, the owner is incompetent, but that's par for the course in Miami.
 
2012-07-03 08:45:36 AM  

JerseyTim: I'm sure he wouldn't mind opening his books to let someone independently verify that.


One thing I have always maintained: say something just to get it out there, and there will always be a certain portion of the populace that will automatically believe you. A lot of the people who don't believe you will have a small part of them that still wonders if what you said is really true even if they don't believe you.

Hell, I ran into that this weekend while randomly talking about Obama's birth certificate. I said that if the Clintons didn't find anything during the primary season, I was pretty sure that there was no controversy. The guy behind me listening in dutifully informed me that the Clintons did know, but Obama had blackmail material on them due to a "disappearance" back in Little Rock.

So, yes, the Clintons have obviously murdered dozens of people throughout their political careers (I mean, that wasn't the first accusation) and our current President is a Kenyan Muslim who wants to destroy America.

People will believe anything.
 
2012-07-03 09:11:28 AM  
Are the Heat above the salary floor? If so, I've found a place they can cut costs. Problem solved.

/he ain't farking losing money
//NBA owners specialize in voodoo accounting
 
2012-07-03 09:47:36 AM  

KiwDaWabbit: JerseyTim: I'm sure he wouldn't mind opening his books to let someone independently verify that.

One thing I have always maintained: say something just to get it out there, and there will always be a certain portion of the populace that will automatically believe you. A lot of the people who don't believe you will have a small part of them that still wonders if what you said is really true even if they don't believe you.

Hell, I ran into that this weekend while randomly talking about Obama's birth certificate. I said that if the Clintons didn't find anything during the primary season, I was pretty sure that there was no controversy. The guy behind me listening in dutifully informed me that the Clintons did know, but Obama had blackmail material on them due to a "disappearance" back in Little Rock.

So, yes, the Clintons have obviously murdered dozens of people throughout their political careers (I mean, that wasn't the first accusation) and our current President is a Kenyan Muslim who wants to destroy America.

People will believe anything.


Isn't that the entire basis of fox news? Anytime my parents try to bring up stuff they heard on fox news I just change the subject to how good the bills are looking going into this season.
 
2012-07-03 10:10:01 AM  

jaylectricity: They were fourth in the league in attendance this year, but their $67 average ticket is $23 less than the average Lakers ticket and $50 more than the average Knicks ticket, according to Team Marketing Report.

Knicks average ticket price is $17? That doesn't sound right. Unless the arena is 90% shiat seating and 10% luxury boxes.


Yeah that's a typo. The average Knicks ticket is $117. The cheapest non-obstructed (due to MSG renovations) Knicks ticket is like $44.
 
2012-07-03 10:59:24 AM  

FriarReb98: "The reality is we're not a big market team," Arison told CNBC. "Minnesota is a larger market than Miami."

Aaaand that's where I realized why this guy is losing money. The entire STATE of Minnesota doesn't have more people than South Florida. South Florida, in fact, is the eighth-largest metropolitan area in the United States, bigger than thirty of the fifty US states. If you can't do this math, how are you supposed to run a farking business??


Not by population (Miami metropolitan area = 5.5M; State of Minnesota = 5.3M)

But by what counts - Nielsen TV Homes (Miami #16 with 1.58M; Minneapolis/St. Paul #15 with 1.75M). He's citing the correct and relevant numbers for his business.
 
2012-07-03 03:55:35 PM  
Miami Heat's big problem is that basketball is not a major sport with their demographic makeup

Most of the area is Hispanic, but consists of many Spanish-speaking people from non-basketball countries. In the Spanish-speaking world, hoops are popular in Puerto Rico, Spain, and Argentina...and the Hispanic population in South FL is mainly Cuban and non-hoops playing Latin Americans.

Many people lump "Hispanics" as one big group...but they are many different ethnicities with many different tastes.

I would not be surprised if the Orlando Magic have a better following among Hispanics, because the Orlando area is mostly Puerto Rican, and basketball is a major sport in PR

I am usually in South Florida a few times per year, and really do not see a lot of people with Heat merchandise. It still is mainly Dolphins, Marlins, and Canes

I am sure Aronson is aware of this issue with South Florida, but probably does not want to upset the community...definitely not Ozzie Guillen. Damn, I would trade the Magic's "Ned Flanders" owner for Mickey Aronson any day
 
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