Miami Arena

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Miami Arena, circa 2002.

Miami Arena is an indoor arena in Miami, Florida.

[edit] History

Completed in 1988 at a cost of $52.5 million, Its opening took business away from the Hollywood Sportatorium and eventually led to its demise. The arena was the home of the Miami Heat from 1988-1999, the Florida Panthers from 1993-1999, the University of Miami basketball teams from 1988-2003, the Miami Hooters of the Arena Football League from 1993-1995, the Miami Matadors of the ECHL in 1998 and the Miami Morays indoor football team since 2005.

It also hosted the 1990 NBA All-Star Game, the 1991 Royal Rumble and the 1994 NCAA Men's Basketball East Regional Final.

On January 2nd, 2000, the Heat moved to the AmericanAirlines Arena located three-blocks east of the Miami Arena on the shore of Biscayne Bay. The Panthers also left the Miami Arena to play at what is now the BankAtlantic Center located in Sunrise, Florida right near Florida's largest outlet mall, Sawgrass Mills.

Most of the concerts that were held at the Miami Arena are now held at newer venues, including the BankAtlantic Center, AmericanAirlines Arena or the Seminole Hard Rock Casino in Hollywood, Florida.

Since then, the arena has remained mostly inactive. The arena was sold in a public auction in 2004 to Glenn Straub, an investor from Palm Beach County, Florida, for $24 million less than the $52 million the city of Miami paid for its original construction. The Miami Arena is sometimes called the "Pink Elephant", because it is a White Elephant with pink colored walls.