Thursday, April 24, 2014

Billionaire Heat Owner Wants More Tax Dollars

Field of Schemes reports Heat owner Micky Arison, the second-richest owner in all of pro sports, wants taxpayers to pay him $12-$17 million a year to extend his lease in Miami:
Miami-Dade commissioner Juan Zapata called the proposed deal “horrible” and said he’d “never seen anything so ridiculous”; that seems a bit over the top, given that Miami would effectively be paying the Heat $5 million a year (in 2014 dollars) to promise to stay put for another ten years, and there are certainly worse lease subsidies out there. It still doesn’t make it a good deal — the Heat don’t have a viable threat to leave town right now, though it’s always possible things will have changed by 2029, especially if Miami is a post-apocalyptic hellscape by then — but it’s only ridiculous in, you know, a routine kind of way.

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