The Miami Heat basketball team and Miami-Dade County are currently negotiating a 10-year extension of the deal that lets the team play at AmericanAirlines Arena and receive about $6.5 million a year in hotel taxes to subsidize operations. The current deal the Heat has now doesn't expire until 2029, but the team is pushing for an extension through 2039 now to help launch a major upgrade of the 14-year old arena.
Two months ago, team lobbyist Jorge Luis Lopez said a new deal may require as much as $17 million a year in public subsidies to produce the kind of renovations that will keep the arena competitive.
The Heat exercised its option to begin renewal discussions in 2012, 17 years before the current 1997 agreement expires.
In November, the team cut its first profit-sharing check to the county for $257,134.