WORLD PROPERTY CHANNEL ®

LeBron James

While the question of how much greater Miami will benefit economically with the arrival of NBA superstar LeBron James at Miami Heat headquarters is still unknown, one related factor is now known conclusively:  He can sell tickets.

The 20,000-seat, $213 million, 11-year-old downtown American Airlines Arena on 14 acres along Biscayne Bay is 95 percent sold out for the 2010--2011 National Basketball Association season, according to national sports-writing sources who claim to have obtained that information from prominent sidewalk scalpers and legitimate ticket kiosk operators.

Miami Heat owner Mickey Arison's staff has not confirmed that information.  However,  Adam H. Beasley of The Miami Herald writes fans trying to buy a season-ticket package Thursday could not even reach a human voice at the Heat's Biscayne Boulevard ticket office.

American Airlines Arena - Miami Heat

"Many who dialed the (ticket office) number were greeted with an automated response," says Beasley.  Others later in the day did reach a human voice and were told "...just a handful of tickets still remained...at some $6,000 apiece."

That equates to a single-game price of $73. The Heat played 82 games last year, won 47 and lost 35.  Single-game tickets last year averaged $60.

"For anyone remotely familiar with the apathetic nature of the South Florida sports fan, this level of (ticket-buying) fervor is foreign, to say the least," says Beasley.

"It's been said more than once that Miami gets excited only for world-class events, and this has to qualify."

Micky Arison, Miami Heat owner

The Heat ranked 15th in average attendance last year (17,730) and 16th in seating capacity (90.5 percent).

"That certainly won't be a problem this year," says Beasley. The (ticket) demand is on par, if not greater than the Heat's title year in 2005-2006, which saw 41 sellouts."

Seats have been snapped up by fans eager for a show and brokers looking to make a buck, according to The Herald.

"The ticket industry is like any other commodity," Beasley adds. "Scalpers buy prized tickets in bulk, thinking they'll be able to sell them for far more than face value. Sometimes it works. Other times,  it's an artificial bubble and they get stuck with undervalued merchandise."

Either way, the futures market has gone through the roof.

"It's going to be an unrealistic market,'' ticket broker Todd Rubin told The Herald.  ``The market's going to start out real high, but due to the fact there are just so many home games, it'll settle down.''

Frank Sanchez

Rubin's primary business is buying game tickets from season package holders then trying to sell them for a profit.

ESPN televised James' decision live Thursday evening from a Boys & Girls Club in Greenwich, CT, a group with which James has a relationship.

Frank Sanchez, the vice president for corporate and partner relationships for the Boys & Girls Clubs of America, said James approached the organization last weekend about using its location for his big show.

The TV special was expected to raise at least $1 million to help refurbish gyms under a program that James' foundation will help direct.

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