Business is Booming for the Miami Heat

by July 22, 2010
24

As you might’ve expected, the Heat (and businesses in Miami) are cashing in on their new reality. The AP reports: “When Chris Bosh and Dwyane Wade made simultaneous announcements on July 7 that they would be teammates in Miami, followed by LeBron James’ decision that lured 10 million television viewers and worldwide attention one night later, Heatmania became an instant phenomenon in the sports business world. The waiting list for Miami season tickets is growing rapidly, fans willing to pay a nonrefundable $100 fee to join. The NBA says the Heat are tops in merchandise sales, with James, Wade and Bosh having three of the five best-selling jerseys. Businesses all over South Florida are trying to cash in on the act, with everything from a LeBron Burger to a ‘Heat Suite’ replete with a Ferrari rental now available. To think, the season is still more than three months away … Indeed, the impact — social and financial, on-court and off-court — James, Wade and Bosh may end up having together in their newly formed supertrio is already becoming apparent. Some estimate their collective financial impact on South Florida could exceed $1 billion, not even taking into account the $329 million in playing contracts they have with Miami through 2016.”