Quick Facts: Miami Heat
| Current Owner | Micky Arison |
| Ownership Type | Private |
| Owner Since | 1995 |
| Founded | 1988, by Ted Arison, Billy Cunningham & Lewis Schaffel |
| Owner’s Day Job | Chairman, Carnival Corporation |
| Championships | 2006, 2012, 2013 (all under Arison) |
| Arena | Kaseya Center, Miami |
Who Owns the Miami Heat?
Micky Arison has owned the Miami Heat since 1995, when he bought out his father and two co-founders to take full control of the franchise his family helped bring to Miami.
Arison is chairman of Carnival Corporation, the world’s largest cruise operator, a company his father Ted Arison built after leaving Norwegian Cruise Line to start a competitor in 1972. The Heat ownership runs in parallel to that business, not through it.
Under Micky Arison, the Heat have won three NBA championships — 2006, 2012, and 2013 — with the 2012 and 2013 titles coming during the “Big Three” era of LeBron James, Dwyane Wade, and Chris Bosh.
Arison has stayed relatively hands-off with basketball decisions, long deferring to team president Pat Riley, a dynamic Forbes has singled out as central to the franchise’s sustained competitiveness.
Miami Heat Ownership History
| Year | Event | Owner / Key Figure | Notes |
|---|---|---|---|
| 1988 | Franchise founded, ~$30M expansion fee | Ted Arison, Billy Cunningham, Lewis Schaffel | NBA expansion team |
| 1995 | Micky Arison buys out father & co-founders | Micky Arison (sole control) | Same year Pat Riley joins as coach |
| 2006 | First NBA championship | Micky Arison | Dwyane Wade Finals MVP |
| 2012–2013 | Back-to-back championships | Micky Arison | “Big Three” era: James, Wade, Bosh |
About the Arison Family
Ted Arison, Micky’s father, is one of the defining figures in modern cruise travel — he co-founded Norwegian Cruise Line in 1966, then left a few years later to launch Carnival Corporation in 1972, eventually building it into the industry’s largest player.
Micky Arison took over as Carnival’s chairman and grew the Heat into one of the NBA’s steadiest franchises, largely by empowering Pat Riley to run basketball operations with minimal interference — a hands-off ownership style credited with the team’s Finals runs even in years without obvious superstar rosters.
Key Ownership Highlights
- Three decades under one owner: Micky Arison has controlled the Heat since 1995, one of the longer single-owner tenures in the NBA.
- The Heat ownership and Carnival Corporation are separate: Arison’s fortune comes from cruise lines, but the team itself operates independently of that business.
- Three championships, three different eras: 2006 (Wade-led), and 2012-2013 (the James/Wade/Bosh “Big Three”), all under the same ownership.
- Pat Riley has been central to the Arison era: joining as coach the same year Micky took control in 1995, later becoming team president and shaping the franchise’s culture for decades.
Frequently Asked Questions
Who owns the Miami Heat?
Micky Arison, chairman of Carnival Corporation, who has owned the team since 1995.
Who founded the Miami Heat?
Ted Arison (Micky’s father), along with Billy Cunningham and Lewis Schaffel, who paid roughly $30 million in expansion fees in 1988.
How did Micky Arison become owner?
He bought out his father and the two other founding partners in 1995, taking full control of the franchise.
How many championships have the Heat won under Arison?
Three — in 2006, 2012, and 2013.
Is Micky Arison’s cruise business connected to the Heat?
No, Carnival Corporation and the Miami Heat are entirely separate businesses; Arison simply owns both.
