The Miami Heat is an American professional basketball team based in Miami, Florida. The Heat compete in the National Basketball Association (NBA) as a member of the leagues Eastern Conference Southeast Division. They play their home games at the American Airlines Arena in downtown Miami. The team owner is Micky Arison, who also owns cruise-ship giant Carnival Corporation. The team president and de facto general manager is Pat Riley, and the head coach is Erik Spoelstra. The mascot of the team is Burnie, an anthropomorphic fireball.
Formed in 1988 as an expansion team, the Heat have won three league championships (in 2006, 2012 and 2013), five conference titles and 11 division titles. From February 3 to March 27, 2013, the Heat won 27 games in a row, the second-longest streak in NBA history (after the 1971–72 Los Angeles Lakers 33 wins). In 2016, Forbes valued the Heat at $1.3 billion as the tenth most valuable among NBA franchises.