Miami Heat Owner Says Team Will Likely Lose Money This Year | Daily Herald

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Miami Heat Owner Says Team Will Likely Lose Money This Year

By: CNBC.com News

Posted on July 02, 2012 at 14:26 PM EDT

"This is a hobby of passion, it's not a business," said Arison, the CEO of Carnival Cruise Lines who took control of the team in 1995. "Every year in the building we've lost money aside from last year, under the old Collective Bargaining Agreement, because of LeBron."

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Carnival Corp.

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