The festival that has brought people from around the world to Miami Beach since 2002 will now officially be staying put-at least until 2011. According to The Miami Herald, Art Basel Miami Beach-which attracts 40,000 visitors and 210 galleries annually-will remain a Miami event in exchange for a change of ownership at the Miami Beach Convention Center.
On Wednesday, city commissioners voted to award rights to the center-the area's biggest meeting space-to Global Spectrum, a facility management company based out of Philadelphia and owned by Comcast, and Messe Schweiz, the organization that owns Art Basel.
The deal stipulates that Spectrum will assume control of operations at the center from SMG, the manager for the past 17 years. The deal, however, is not without controversy, as some believe the new situation will create a conflict of interest for the new owners, who will also be able reserve the center for their own events.
City Commissioner Jonah Wolfson, who voted against the agreement, said that it was "inviting corruption" by putting too much power into the hands of a few people.
Art Basel is one of the largest events executed in the convention center, right behind the annual car expo and the Miami International Boat Show.
