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The Miami Heat is a professional basketball team based in Miami , Florida , United States . The team is a member of the Southeast Division in the Eastern Conference of the National Basketball Association (NBA). They play their home games at American Airlines Arena in Downtown Miami . The team is owned by Micky Arison , coached by Erik Spoelstra and managed by Basketball Hall of Fame coach Pat Riley . The roster includes the "Big Three" which consists of LeBron James , Dwyane Wade , and Chris Bosh . The mascot of the team is Burnie, an anthropomorphic fireball.
The Heat were formed in 1988 as an expansion franchise along with the Charlotte Hornets . The Heat along with the Orlando Magic are the two NBA franchises that represent the state of Florida. Since entering the league, Miami has fielded squads that have made the playoffs 15 out of 23 seasons, capturing eight division titles, two Eastern Conference Championships in four appearances, and one NBA Championship, defeating the Dallas Mavericks 4–2 in the 2006 NBA Finals . According to Forbes Magazine , in 2010 the value of the franchise was about 425 million dollars.
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