Tag:Micky Arison
Posted on: January 16, 2012 1:33 pm
Edited on: January 16, 2012 1:44 pm
 

Heat's Arison, Carnival CEO, sad about shipwreck

Posted by Royce Young



Miami Heat owner Micky Arison has lost a reported $1.3 billion with his Carnial Cruise Lines. And things aren't getting any better for him right now.

Over the weekend, an Italian cruise ship crashed in the Mediterranean Sea after hitting a reef off the island of Giglio. According to reports, 16 passengers and crew are still missing and six have been found dead.

But the owner of the cruise liner? Arison.

Via the New York Post:

Carnival said the ship was insured for damage with a deductible of approximately $30 million, as well as insurance for third-party personal injury liability subject to an additional deductible of approximately $10 million for this incident. The company self-insures for loss of use of the vessel.

A damage assessment review is underway, Carnival said, but the ship is expected to be out of service for the remainder of the company's current fiscal year -- if not longer.

The company is 47 percent owned by Micky Arison, chief executive and son of the company's founder, and the broader Arison family. It has lost almost a third of its market value over the past year, amid investor worries about fuel prices and consumer weakness.

Arison said in a statement that he was "deeply saddened" about the incident. Carnival said Monday that the shipwreck could cost it approximately $85 million to $95 million in lost earnings alone. Which obviously takes a major backseat to those that were injured or killed as a result of the wreck, but the damage from the incident is wide reaching.
Category: NBA
Posted on: January 5, 2012 1:43 pm
 

Forbes: Heat owner Micky Arison lost $1.3 billion

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
Posted on: December 22, 2011 5:02 pm
Edited on: December 22, 2011 5:04 pm
 

Heat owner voted down NBA labor deal in 'protest'

Posted by Ben Gollivermicky-arison

After drawing a $500,000 fine for publicly disassociating himself from hardline owners who were holding up the 2011-2012 NBA season, Miami Heat owner Micky Arison actually voted against the league's new collective bargaining agreement.

The Associated Press reports that Arison revealed his decision to cast a "protest vote" to reporters on Thursday.
Arison says it was "a protest vote" primarily in response to the way revenue-sharing components of the deal will be structured. He is the second owner to reveal that he voted against the CBA, joining Dallas' Mark Cuban.

In all, five teams voted against the CBA. Arison would not name the other owners who voted no.

Arison declined to say if he would have cast the "no" vote if the CBA wasn't already assured of passage. Enough votes to pass were already secured by the time Miami made its selection.
The Sun-Sentinel reports that the sticking point for Arison was the league's revenue sharing program, which will require a drastically larger contribution from him.
"While I did everything I could behind the scenes and some not-so-behind-the-scenes to get playing by Christmas," Arison said, "when you come down to it, financially, it's important to understand that revenue sharing and the CBA together, it's a tough financial deal for us, particularly the revenue-sharing piece of it, the way it's structured.

"For us to have to pay revenue sharing to larger-market teams was disturbing, and we will. And so that was a kind of protest vote on our part."
Back in October, Arison wrote to an angry fan on Twitter that they were "barking at the wrong owner" when it came to complaining over the slow development of labor talks. That comment drew a $500,000 fine from NBA commissioner David Stern because it violated a gag order he imposed on the league's owners during the lockout.

"Just to make it clear no one is happier to see the NBA starting on Sunday than me," Arison tweeted on Thursday. "Big things are coming."

The Heat's owner was recently ranked No. 75 on the Forbes 400 richest Americans list with an estimated net worth of $4.2 billion. 
Category: NBA
Posted on: November 10, 2011 5:14 pm
 

LeBron's already missed out on $12M from the Heat

Posted by Royce Young

For the last three years, everyone has been advising players to save up money, divert some into different account or just hoard it all in a piggy bank to prepare for this impending lockout.

Why? Because everyone knew this was coming. Officially, most players don't miss a paycheck until Nov. 15 (or so), but the three Miami Heat titans don't care about that. Forget saving -- they wanted their contracts loaded up on the FRONT end. Via ESPN.com:
Heat owner Micky Arison is worth more than $4 billion and his sitting on a massive lump of money from thousands of season ticket holders who’ve paid in full. Not to mention he didn’t have to pay LeBron James, Dwyane Wade and Chris Bosh their July balloon payments. James, sources said, was owed a $12 million check in July as part of his contract that allowed him to get 80 percent of his annual salary up front. That cash is still sitting in the Heat’s coffers. Yet the Heat’s employees are all swallowing 25 percent paycuts right now because of the lockout. We infer from this exactly what Arison has proven for years: he’s a businessman not just a billionaire.
That is just so Miami Heat. Don't think about the consequence, only think about the now.

Now, of course, LeBron, Wade and Bosh will get their balloon payments that they're owed once the lockout ends. But right now, Arison is sitting on a pile of money that he doesn't have to give to his three superstars. I'm sure he wants to because that means basketball is back, but he doesn't have to. Which isn't so bad.

And as the report notes, Arison cut back on Heat employee salaries during the lockout despite having this rainy day fund. Even though he's got more than $20 million extra, he didn't keep his employees at their normal salary. Probably because eventually he has to pay it back, but still, it's not like he didn't have the money.

Via PBT
Posted on: October 31, 2011 6:01 pm
Edited on: October 31, 2011 6:19 pm
 

NBA fines Heat owner Arison $500K for tweets

Posted by Ben Gollivermicky-arison

You spoke out against the family. You threw your brothers under the bus. For that, you must pay.

Yahoo Sports reports that NBA commissioner David Stern has fined Miami Heat owner Micky Arison $500,000 for violating the NBA's gag order for a series of Twitter messages he posted on Friday night. The Sun-Sentinel later confirmed the report.

The messages were posted on Arison's account - @MickyArison - in the hours after labor negotiations between the NBA and the National Basketballl Players Association broke down.

Arison responded to an angry fan who blamed him for being a "greedy pig" by saying that he was "barking at the wrong owner." He also said that owners "care alot" about the NBA's fans and laughed when asked for his opinion of Los Angeles Clippers owner Donald Sterling. 

Arison, the CEO of Carnival Cruise Lines, deleted a number of messages, including the "barking" one, from his account shortly after posting them.

The Heat's owner was recently ranked No. 75 on the Forbes 400 richest Americans list with an estimated net worth of $4.2 billion. After he spent the summer of 2010 assembling a veritable dream team of Dwyane Wade, LeBron James and Chris Bosh, it's no wonder he might want to get the NBA's schedule started sooner rather than later.

The tweets likely drew such a hefty fine because they represented the first real public fissure in ownerships' position. By and large, the NBA's owners have issued very few comments on the state of negotiations and certainly no one had deviated from the league's message as drastically as Arison did. 

NBA legend Michael Jordan, currently the owner of the Charlotte Bobcats, was reportedly fined $100,000 for his comments about the lockout in September. Minnesota Timberwolves president David Kahn was also reportedly fined for discussing multiple players during the lockout.
Posted on: October 28, 2011 10:53 pm
Edited on: October 28, 2011 11:15 pm
 

Heat owner Arison passes the buck on NBA lockout

Posted by Ben Gollivermicky-arison

Silence, please. Miami Heat owner Micky Arison would like to make an announcement: The buck does not stop with Micky Arison.

Hours after negotiations between the NBA and the National Basketball Players Association broke down in New York City, Arison, recently ranked No. 75 on the Forbes 400 richest Americans list with an estimated net worth of $4.2 billion, took to Twitter to engage in conversation with fans about the state of the talks. NBA owners have been almost uniformly silent during the lockout, adhering to a league-imposed gag order, but Arison opened up on Friday night.

His message: Don't blame me.

An angry fan directed the following mesage at Arison: "How's it feel to be apart of ruining the best game in the world? NBA owners/players don't give a damn about fans.. and guess what? Fans provide all the money you're fighting over.. you greedy a** pigs."

Arison replied: "You are barking at the wrong owner."

Less than an hour after that message was posted, it had been deleted from Arison's account.

But that's not all Arison, who inherited both the Heat and Carnival Cruise Lines from his father, had to say.

When another fan said that NBA owners don't care about fans, Arison tweeted, "Wrong, we care a lot."

Asked for his thoughts on Los Angeles Clippers owner Donald Sterling, he simply replied, "lol."

Certainly, we can all agree to laugh about Donald Sterling. He's a joke.

But, ladies and gentlemen, we've found our NBA owner equivalent of Minnesota Timberwolves forward Michael Beasley, who recently said that it was "kind of retarded" that the NBA and the National Basketball Players Association were fighting over 3 percent of the league's Basketball-Related Income.

Arison's tweets offer a rare peak behind the curtains at the philosophical divide among the owners. While NBA commissioner David Stern and deputy commissioner Adam Silver have tried their best to project a message that the NBA's owners are all on the same page when it comes to issues like revenue sharing, competitive balance and restructuring the Basketball-Related Income split, it's clear that there's at least two camps -- call them haves and have-nots, if you like -- among the owners. This is a point that NBPA executive director Billy Hunter and president Derek Fisher have alluded to throughout the negotiating process. 

With a veritable dream team assembled and guaranteed sell-outs for the next decade in hand, Arison is clearly a have. But while he might not want to admit it -- or even realize it -- Arison is, in fact, part of the problem. All 30 owners bear responsibility for their collective positions. That's how this thing works.

To point the finger at his fellow owners only makes the negotiation that much more charged. The players, who have already made massive concessions, clearly feel like they have been lied to. The last thing this tenuous process needs is a billionaire throwing his colleagues under the bus in an effort to save face and be "the good guy" on a social network.
Posted on: October 2, 2011 1:56 am
Edited on: October 2, 2011 1:32 pm
 

NBPA shouts met with laughter by NBA owners

Posted by Ben Golliver

derek-fisher-baron-davis-hobo

Saturday essentially represented the eleventh hour if ongoing labor negotiations were going to progress enough to save the start of the 2011-2012 NBA season, and the league's owners responded with all the urgency other people their age bring to planning a 2 p.m. nap. The owners wanted to save the season so badly that they agreed not to even discuss the money issue because it was so clearly a waste of time. The owners were so committed to avoiding a true work stoppage that they used the oldest trick in the book, "working late" on Saturday as an excuse to take off Sunday. 

The lasting scene from the last two fruitless days of labor negotiations is not Miami Heat guard Dwyane Wade standing up to commissioner David Stern on Friday. No, the image that will endure is billionaire Heat owner Micky Arison cracking a joke about the exchange and then treating himself to a New York steak on Saturday night.

Sure, imagining Wade sticking it to basketball's bellicose bully is a great picture, but if you zoom out you can clearly see the league's owners yawning, or perhaps even chuckling, at Wade's confident petulance, knowing that his outburst stems from a growing sense of outrage and frustration at the lack of progress in the talks. "If the superstars are getting this upset," you can almost hear the owners thinking, "just imagine how mad the mid-level players must be."

Once the natural sense of satisfaction and vindication caused by Wade's confrontation with Stern wears off among the league's rank and file, they will soon realize that the exchange of words and, really, the entire appearance of stars like LeBron James and Carmelo Anthony at Friday's talks in New York was nothing more than a sideshow, a distraction from the fact that the owners have not meaningfully moved on the only topic that matters: the split of basketball-related income. Expecting Wade, James and Anthony to influence the mindset of owners dead set on a financial system overhaul is as ridiculous as the costume Cleveland Cavaliers guard Baron Davis wore to the proceedings. It didn't make any difference. The superstars, it turns out, are not a panacea. So, what next?

Aside from praying for a favorable ruling by the National Labor Relations Board and the longshot, that-ship-has-sailed option of decertification, the National Basketball Players Association is running fresh out of ideas. Patience has been the order of the day up to this point but panic seems like a more apt description of what should come next, given how unblinking the owners were this weekend. As a group, the owners have shown no real cracks and they even offered up a generous, expanded revenue sharing program to the surprise of many. Sure, they are getting killed for jeopardizing the future of their league and for being profit-hungry, and they deserve every word of it, but damned if they aren't unified in their questionable course of action. They are driving this season off the cliff in tandem. Thirty motorcycles will crash into the ravine simultaneously.

And that's why the month of October in these negotiations will be defined by the resolve of the other side, which already seems a touch shaky. NBPA president Derek Fisher and executive director Billy Hunter, despite their best efforts and tireless work, have struggled to maintain order and interest among their ranks. Only a few dozen players bothered to show up at a recent regional meeting in Las Vegas and the league's star players were virtually absent during this process until their brief cameo on Friday. The NBA's most popular player, Kobe Bryant, couldn't be bothered to break off from his overseas obligations. The NBA's MVP, Derrick Rose, has been seen fighting bullfighters in sneaker commercials but hasn't stepped into the labor ring. LeBron James, the league's biggest talent, is reportedly among a group of stars ready to dig in and take a hard line at 53 percent of the BRI, regardless of the consequences, but that's easy for him to say because he's made more money in a season, multiple times, than the average player will make in a career. He has copious, global endorsement opportunities to help ease the pain, too.

Dozens of fringe players have already bailed to play basketball overseas and, with the cancelation of regular season games just around the corner, middle of the road guys who had been weighing their options are likely to follow suit. Those who don't go will only get antsier and antsier, louder and louder, once this weekend's non-action sinks in and the missed paychecks become a reality rather than a threat. When that clamoring starts to pick up, we know where the owners will be: laid back with their feet kicked up, holding onto the same demands they've held since the beginning of the process, laughing all the way to the bank.

The owners are the perfect villians: rich beyond our wildest dreams and determined to squeeze out every possible penny, regardless of the collateral damage. The scary part is that they don't care how they appear to the public, the media or, even, to Wade. The terrifying part is that it's still not totally clear the players understand what they are up against yet.
Posted on: September 22, 2011 4:58 pm
Edited on: September 22, 2011 5:01 pm
 

NBA owners make Forbes 400 richest Americans list

Posted by Ben Gollivernba-lockout

When the ongoing NBA lockout is framed as a battle between billionaire owners and millionaire players, it's often not an exaggeration.

Forbes.com released its annual list of the 400 wealthiest Americans this week, and more than a dozen NBA owners and minority owners appeared on the list, among the new school technology geniuses and old money investment titans.

The NBA's richest individual owner, according to Forbes, is Portland Trail Blazers owner Paul Allen, who co-founded Microsoft with Bill Gates, the overall richest No. 1 ranked person on the list. Allen's net worth is reported as $13.2 billion and he ranks No. 23 overall on the list. He recently decided to sell one of his private islands.

Somewhat incredibly, Allen is more than twice as rich as the next individual NBA team majority owner. In second place is Amway co-founder Richard DeVos, owner of the Orlando Magic, who is ranked No. 60 with a net worth pegged at $5 billion. 

Rounding out the top five richest individual NBA owners are Miami Heat owner Micky Arison (No. 75, $4.2 billion, Carnival Cruises), Denver Nuggets owner Stan Kroenke (No. 107, $3.2 billion, Walmart) and new Detroit Pistons owner Tom Gores (No. 159, $2.5 billion private equity). The Nuggets are operated by Kroenke's son, Josh.

The other seven NBA majority owners on the list are: Dallas Mavericks owner Mark Cuban (No. 171, $2.3 billion), Minnesota Timberwolves owner Glen Taylor (No. 242, $1.8 billion), Indiana Pacers owner Herb Simon (No. 273, $1.6 billion), Cleveland Cavaliers owner Dan Gilbert (No. 293, $1.5 billion), Memphis Grizzlies owner Michael Heisley (No. 293, $1.5 billion) Los Angeles Clippers owner Donald Sterling (No. 293, $1.5 billion) and new Philadelphia 76ers owner Joshua Harris (No. 309, $1.45 billion).

Los Angeles Lakers minority owner Dr. Patrick Soon-Shiong, who recently purchased the ownership stake previously held by Lakers legend Magic Johnson, ranked No. 39 with a net worth of $7 billion. 

Hat tip: IAmAGM.com.
 
 
 
 
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