Heat Already Displaying Financial Health

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The Miami Heat are generating good news hand over fist.  Not only did they land Chris Bosh, LeBron James, and a good supporting cast this off season, but they have also already sold out for the regular season.  With three months until opening day, the Heat have the added bonus of terminating the salaries of the season ticket sellers from their budget.

Sarah Talalay of the South Florida Sun-Sentinel reports:

The Heat’s decision to halt season tickets sales on speculation it might sign LeBron James means the team no longer needs a season ticket sales staff.

About 30 employees were told Friday morning they were losing their jobs, and some were moved to other positions. The Heat confirmed the layoffs in a statement indicating with its season ticket inventory “exhausted, we no longer require a season ticket sales team to sell tickets…

Sources said the employees made a base salary and commission, which was sizable during the sales rush that came on rumors the team might sign LeBron James, Chris Bosh and re-sign Dwyane Wade. Some employees were offered severance of up to a year’s salary and extended benefits. Additionally, some staffers might be hired back to oversee season ticket holder accounts, the sources said.

Heat Owner, Mickey Arison seen here enjoying a bonfire

The Heat are already feeling the financial benefit of having three superstars on their roster, including two of the biggest.  I can only begin to imagine what jersey sales will be like.  There are a lot of people who have been turned off by the triumvirate, but I imagine there will be legions of fans by the All Star break, once people see how good they are.  In addition, the Heat are currently adding more season tickets and taking deposits for them.  There will be a consecutive sellout streak.  There will be playoff ticket revenue as well.  Analysis shows that Cleveland stands to lose $48 million dollars in downtown business alone.  The total cost of LeBron leaving might be upwards of $150 million dollars per year.  And a larger city, say . . . Miami, could stand to make two or three times that off James.  You can see why Dan Gilbert blew a gasket, and why New York City endured years of failure.

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5 Responses to “Heat Already Displaying Financial Health”

  1. jpalumbo Says:

    Hey, Mickey? You got a little sumthin on your face.

  2. High Above Courtside Says:

    So who is going to play defense? and don’t tell me the triumvirate

  3. pmadavi Says:

    Well, they do have the best defender in the league at the 3 and 2.

  4. jpalumbo Says:

    They have Ron Artest and Shane Battier?

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