Miami Sol To Leave Heat Group

MIAMI, Nov. 27 -- Heat Group President of Business Operations Eric Woolworth and WNBA President Val Ackerman announced today that the Miami Sol's operating agreement with the league has expired and the organization has elected not to assume ownership of the team pursuant to the league's recent structural reorganization. The NBA Board of Governors in October approved the transition of WNBA teams from operating agreements to individual ownership rights.

"We have greatly enjoyed our WNBA experience, especially our relationships with our players and fans, and continue to believe the women's pro game has a bright future, but our plans are to redirect our energies to our other business interests," said Woolworth.

The WNBA recently announced that San Antonio has been awarded a team for the 2003 season after exceeding its season ticket pledge requirement of 6,000 deposits. The league is also continuing its discussions with potential owners in various cities who are interested in acquiring a WNBA team. For the first time, WNBA teams may now be located in non-NBA markets, and non-NBA owners may pursue ownership of WNBA teams in NBA cities.

"We are grateful to the Heat organization for contributing to our efforts to build the women's game and thankful to all of the fans who have supported us in South Florida," said Ackerman. "We are very optimistic about the new market and new ownership prospects that our restructuring plan has created and hope to announce shortly our plans with respect to our cities for 2003 and beyond."