Market Monday #10: Miami

Take a trip south with us as our tenth Market Monday explores one of the more exciting sports cities in North America, Miami.

Andrew Flegar @ajflegs

Every Monday theBRKDWN releases our Market Monday segment. These are a series of articles that break down the history and sport markets in different cities each week, focusing specifically on teams in five of the major professional sports leagues in North America: NFL, NHL, NBA, MLB, and MLS. I will try to include only the most important and noteworthy information about each team including information such as year established, years a team existed if they no longer do or have relocated, number of championships won or participated in, other cities where a franchise previously existed, financial information, and any other noteworthy information. This week we are heading to a place that has often been referred to as Magic City – Miami.

Check out some of our other Market Monday’s:

Seattle

Philadelphia

Dallas

New York

Los Angeles

Chicago

Boston

Toronto

The Bay Area

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NFL Breakdown

Miami Dolphins

Year Franchise Founded: 1965

Year Established in city: 1965

# of championships: 2 (Both in Super Bowl era)

Team Estimated Value: $2.575 billion USD

Current Home Stadium: Hard Rock Stadium

The Miami Dolphins are the oldest professional sports team in Miami. They are also the only franchise in NFL history to put together a perfect season. In 1972 the Fins went 14-0 in the regular season and 3-0 in the playoffs to win the franchise’s first ever championship. After winning a Super Bowl in the 1972 season, the Dolphins went on to win a second consecutive Super Bowl in 1973. These two Super Bowl victories were the first two championships ever won by a Miami franchise and it was also the first time the city had ever experienced winning back-to-back championships.

Dan Marino, one of the best quarterbacks of all time, played for the Miami Dolphins for his entire NFL career. Marino unfortunately never won a Super Bowl but he holds many passing records and is considered as one of the greatest football players ever to never win a Super Bowl. He’s also the most famous Miami Dolphin ever, hands down.

MLB Breakdown

Miami Marlins

Year Franchise Founded: 1993

Year Established in city: 1993

Previous names: Florida Marlins

# of championships: 2

Team Estimated Value: $1 billion USD

Current Home Stadium: Marlins Park

Even though the climate in Miami is ideal for playing baseball, the Marlins had the lowest average attendance per game last season (2018) and they are the second least valuable team in MLB. Perhaps being one of two MLB franchises who have never won a division title does not necessarily help the team’s popularity either. The Marlins have only made the playoffs twice in franchise history but, interestingly enough, they ended up winning the World Series in both of those playoff appearances. They were known as the Florida Marlins from 1993 until 2011 when they decided to rebrand as the Miami Marlins. They have changed their logo a couple times throughout the years and just released another new logo for the 2019 season which has a neon “Miami Vice” look to it.

NBA Breakdown

Miami Heat

Years Franchise Founded: 1988

Years Established in city: 1988

# of championships: 3

Team Estimated Value: $1.75 billion USD

Home Stadium: American Airlines Arena

The Heat are the second oldest professional sports team in Miami. Currently they are ranked fifth in average attendance per game in this 2019 season with an average of 19,613 fans attending their home games on a nightly basis. One of the most exciting moments for Miami Heat fans might have been when the “Big Three” (Chris Bosh, Dwayne Wade, and LeBron James) announced they were deciding to team up together to win a bunch of championships in Miami. In a way, LeBron James lied to Heat fans when he promised they would win a boat-load of championships in a press conference

The Heat only ended up winning two NBA Finals when the Big Three played together in Miami.

NHL Breakdown

Florida Panthers

Year Franchise Founded: 1993

Year Established in city: 1993

# of championships: 0

Team Estimated Value: $295 million USD

Current Home Stadium: BB&T Center

The Florida Panthers have struggled in the past. They have only made the playoffs five times in 25 seasons of existence, appeared in one Stanley Cup Final, and have yet to win a Cup. At the moment the Panthers are Miami’s least valuable team, the second least valuable team in the NHL, and have the second worst attendance in the league.

MLS Breakdown

Inter Miami FC

Year Franchise Founded: 2018

Inaugural Season: 2020

MLS announced that Miami was awarded the league’s 25th franchise in January of 2018. Famous English soccer star David Beckham is president, co-founder, and co-owner of Inter Miami FC along with four other very successful businessmen. The franchise does not have any official plans for a home stadium yet and from the sounds of things, a home stadium for Inter Miami might not be built until after their first or second season in MLS. The one thing we know for sure is that Inter Miami’s logo is one of the best looking in the league.

Miami Sport Market Breakdown

Total championships titles won in city: 7

Total estimated net worth: $5.62 billion USD

Miami is known for nice weather and beaches, not for their professional sports. This is pretty obvious as some professional sports teams in Miami struggle with attendance and are not doing outstanding financially.

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