MIAMI (WSVN) - American Airlines has confirmed it will not be seeking to renew the naming rights for the Miami Heat’s home arena in downtown Miami.
The airline purchased the 20-year naming rights for $42 million starting on Dec. 31, 1999, when the AmericanAirlines Arena first opened, Miami Today reports.
AA released a statement to 7News regarding the future of the arena: “American Airlines is proud to call Miami home. We are not seeking to renew naming rights for the arena, but remain the official airline of the Miami Heat and continue to invest in programs that support the community, where 13,500 American team members live and work. We wish Miami-Dade County well in their search for a new sponsor.”
According to Miami Today, a “nationally renowned company” has expressed interest in buying the naming rights, having even toured the arena.
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