Sunday, October 16, 2011

dwyane wade career

The Heat were formed in 1988 as an expansion franchise along with the Charlotte Hornets and they along with the Orlando Magic are the only two NBA franchises to represent the state of Florida. Since then, Miami has fielded squads that have made the playoffs 15 out of 23 seasons, captured eight division titles and won the 2006 NBA Finals against the Dallas Mavericks 4–2. According to Forbes Magazine, in 2010 the value of the franchise was $425 million.

In Florida, a state devoid of NBA franchises, groups from Orlando, Tampa/St. Petersburg and Miami all vied to land franchises. The Miami Sports and Exhibition Authority eventually endorsed a group led by NBA Hall of Famer Billy Cunningham and former sports agent (and lifelong friend of Cunningham's) Lewis Schaffel, who received their financial backing from Carnival Cruise Lines founder Ted Arison, who would be majority owner. Day-to-day operations would be handled by minority shareholders Cunningham and Schaffel.

To help address Miami's league-low point production, the Heat picked Glen Rice from the University of Michigan in the first round of the 1989 NBA Draft, and Sherman Douglas of Syracuse University in the 2nd round. The team also moved to the Atlantic Division of the Eastern Conference for the 1989–90 season, where they would remain for the next 15 years. However, the Heat continued to struggle and never won more than two consecutive games, en route to an 18–64 record.

In the wake of Rothstein's resignation prior to the 1991–92 season, the Heat hired Kevin Loughery, who had 29 years of experience in the NBA both as a coach and a player, to be their new head coach.

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