MIAMI
01/06/2012 12:52 pm ET Updated Mar 07, 2012

Forbes: Heat Owner Arison Lost $1.3 Billion

Last month Miami Heat owner Micky Arison cast a protest vote against the NBA's new collective bargaining agreement because he felt it was a bad financial deal for his team. Even though Arison is one of the NBA's wealthiest owners, he's regularly maintained that his basketball business should still be run like a business.

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