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 Heat were formed in 1988 as an expansion franchise along with the Charlotte Hornets and they along with the Orlando Magic are the only two NBA franchises to represent the state of Florida. Since then, Miami has fielded squads that have made the playoffs 15 out of 23 seasons, captured eight division titles and won the 2006 NBA Finals against the Dallas Mavericks 4 to 2. According to Forbes Magazine, in 2010 the value of the franchise was $425 million.