Heat owner Micky Arison has been unanimously elected as Chairman of the NBA Board of Governors, the league announced today (via Twitter).

Arison, who is one of the league’s most experienced owners, will take over from Raptors owner Larry Tanenbaum, who has been in the role since 2017. He began his ownership of the Raptors in February of 1998, which ended in July of 2026 when Rogers Communications bought out his remaining 25% ownership stake in Maple Leaf Sports and Entertainment.

NBA commissioner Adam Silver spoke about his gratitude towards Tanenbaum for his service and confidence in Arison moving forward.

“Micky’s long record of service on the Board, his strong relationships with his fellow team owners and his deep understanding of our game and business make him an exceptional choice to assume this important leadership role,” Silver said, per the NBA’s press release.

Arison, who was inducted into the Naismith Hall of Fame in 2025, expressed his excitement to step into a new role that has the power to help guide the league’s direction in a positive direction.

“I look forward to working closely in this new capacity with Adam, the league office and my fellow team governors to champion our teams and players, ensuring we continue to deliver exciting and unforgettable experiences for our fans,” Arison said.

His tenure will begin in September 2026, following the annual Board of Governors’ meeting.