NBA owners are struggling to weather the coronavirus pandemic storm as they prepare for the 2020-21 season to be played behind closed doors as well. NBA owners are quietly trying to raise cash with roughly 40% of the league's revenues coming from ticket sales and arena sponsorships. Miami Heat owner Micky Arison has also faced tremendous loss due to the current COVID-19 pandemic, and with several of their key players heading into free agency, they are likely to face financial complications in the upcoming season. Here's a look at Miami Heat owner Micky Arison net worth, Micky Arison loss due to COVID-19 and the Micky Arison business.
According to Forbes' real-time net worth metric, the Micky Arison net worth can be estimated to be around a whopping $5.5 billion. Much of the Micky Arison net worth can be attributed to his earnings as the chairman of Carnival Corp, the world's largest cruise ship operator. The Miami Heat owner was also the CEO of Carnival Corp for 34 years until he was replaced by Arnold W. Donald. During his time as CEO, Micky Arison helped in growing Carnival Corp's fleet from two ships to more than 100.
The Micky Arison business was started by the Miami Heat owner and his father Ted in 1972, and Arison subsequently dropped out of the University of Miami to become a sales representative for the cruise line. The Micky Arison cruise business currently comprises of nine cruise line brands and one cruise experience brand operating a combined fleet of 104 ships. Arison turned Miami Heat owner in 1995 and brought in team president and head coach Pat Riley. After years of mediocrity, Heat challenged for the playoffs, and under Riley won the 2006, 2012, and 2013 NBA Finals.
According to ESPN's Brian Windhorst, the Micky Arison net worth has seen a dip of a staggering $2.5 billion since March due to the COVID-19 pandemic. With international travel and trade in limbo during the global health crisis, Arison's Carnival Cruise Lines Corp was shuttered which is likely to affect how Miami Heat function in the off-season. Heat have the second-highest payroll in the NBA this season and have several key performers such as Goran Dragic, Jae Crowder and Meyers Leonard heading for free agency. Heat are expected to chase free-agent stars like Giannis Antetokounmpo in 2021 and save cap room. However, considering the Micky Arison loss, they might not extend young All-Star Bam Adebayo's contract this year and their 2021 spending will also be affected.