The Miami Heat bought its former guard Tim Hardaway's house in 2010 to help him clear a debt to the IRS — and now the team made a handsome profit selling the home.
Miami Heat Limited Partnership, the company owned by Micky Arison sold the home at 10050 SW 62 Avenue earlier this year for $2.3 million. Records show the company bought the house from Hardaway in September 2010 for $1.98 million.
And this, despite the fact that the house was in need of so much updating that it lingered on the market for three years.
Records show it's 7,540 square feet on nearly two acres of land, with giant electric gates and a 6-foot coral rock wall. There's also a six-car garage, 20-foot ceilings, a heated pool and a movie theater.
Hardaway, 47, who played in Miami for six seasons starting in 1995, apparently got to live in his old homestead while he cleared his finances.
Hardaway bought the property for $1.5 million in 1996.