Raij Quoted on Miami-Dade's Profit-Sharing Deal With Miami Heat

Partner Irwin Raij was quoted in a Miami Herald article published on May 15, 2014, titled "Why the Miami Heat’s Big Success has Meant Little Profit for Miami-Dade County." The article discussed the lack of profit Miami-Dade County has received despite the large amount of revenue generated by the Miami Heat basketball team at the AmericanAirlines Arena. The Miami Herald examined 14 years’ worth of financial reports from the arena to evaluate the current profit-sharing agreement. Raij noted that higher facility costs for the arena was inevitable, and that a longer lease would help improve the Heat’s financial position to tackle big upgrades. Raij was quoted saying, “Those extra 10 years provide a tremendous amount of stability to the franchise.”