Blog Entry

Forbes: Heat owner Micky Arison lost $1.3 billion

Posted on: January 5, 2012 1:43 pm
 
Posted by Royce Young

Micky Arison had a pretty good year. LeBron James and Chris Bosh came to South Beach, the Heat made it to The Finals and his franchise is set up to compete for championships for at least the next four or five years. He's got maybe the most visible, hottest franchise in the league and the Heat are making some money.

Except it wasn't really a great year for Arison, in terms of money.

According to Forbes, Arison lost an estimated $1.3 billion (with a "b") last year. Arison is the majority owner of Carnival Cruise Lines, and his share price decreased 28 percent because of the poor U.S. economy. Just with the cruise business alone, Arison lost the money and was named one of the magazine's biggest losers for 2011.

Arison was one of the five owners to vote against the league's new collective bargaining agreement, saying he did it in "protest" of the new deal. He was also fined during the lockout $500,000 because he tweeted to an upset fan that they were "barking at the wrong owner."

Arison wasn't one of the so-called "hardliners" that were pushing for a hard cap and tougher system, but you can see why some of these owners wanted to guarantee themselves profits with their franchies. Due to the sagging economy, their primary businesses have taken a hit and now they're looking for their basketball organization to make a little.

Arison recently was ranked No. 75 by Forbes in its top 400 richest Americans, but with a $1.3 billion hit to his wallet, you've got to think that might change a bit.

Via I Am A GM
Category: NBA
Comments

Since: Aug 13, 2008
Posted on: January 5, 2012 6:19 pm
 

Forbes: Heat owner Micky Arison lost $1.3 billion

Nice!



Since: Oct 13, 2007
Posted on: January 5, 2012 6:16 pm
 

Forbes: Heat owner Micky Arison lost $1.3 billion

Like it.



Since: May 12, 2008
Posted on: January 5, 2012 6:05 pm
 

Forbes: Heat owner Micky Arison lost $1.3 billion

did you want me to say sorry for your loss ??



Since: Mar 17, 2008
Posted on: January 5, 2012 5:56 pm
 

Forbes: Heat owner Micky Arison lost $1.3 billion

that means his remaining shares are worth 3.3 billion. hard to shed any tears




Since: Jan 10, 2010
Posted on: January 5, 2012 5:49 pm
 

Forbes: Heat owner Micky Arison lost $1.3 billion

i blame lebron



Since: May 12, 2008
Posted on: January 5, 2012 5:36 pm
This comment has been removed.

Post Deleted by Administrator




Since: Nov 18, 2006
Posted on: January 5, 2012 5:13 pm
 

Forbes: Heat owner Micky Arison lost $1.3 billion

you spelled "Bicycle" wrong, numb nuts

And I believe it's spelled "Gnat"

You must also be very smart, huh?






Since: Oct 2, 2009
Posted on: January 5, 2012 5:12 pm
 

Forbes: Heat owner Micky Arison lost $1.3 billion

go buy your kids a jet...sound financial move!!  what an idiot comment



Since: Oct 2, 2009
Posted on: January 5, 2012 5:10 pm
 

Forbes: Heat owner Micky Arison lost $1.3 billion

hey roid rage, good idea to buy your kids a jet...sound financial move!!



Since: May 27, 2008
Posted on: January 5, 2012 5:01 pm
 

Forbes: Heat owner Micky Arison lost $1.3 billion

Must be nice.


The views expressed in this blog are solely those of the author and do not reflect the views of CBS Sports or CBSSports.com