MIAMI _ A team spokesperson confirmed Friday that Jeffrey R. David, who initially had been placed on leave by the Miami Heat amid an FBI investigation into a suspected money-laundering scheme while in a similar role with the Sacramento Kings, is no longer a Heat employee.
David, 44, had been hired on July 9 as chief revenue officer for The Heat Group, a job the Heat team said had him "responsible for driving the club's local, regional, national and international business opportunities while overseeing the Corporate Sales and Service, Premium Seating and Service and the Ticket Sales departments."
According to a report in the Sacramento Bee, David, "is suspected of siphoning off $13.4 million from two of the team's top sponsors and using the funds to purchase beachfront property in Southern California."
In the wake of the initial report of the investigation, the Heat issued a statement that read, "We are aware of the investigation of Jeff David, which focuses on events that took place prior to his joining our team. We are fully cooperating with the authorities. Jeff David is on leave, pending the outcome of the investigation."
That status has since been changed, with the Heat declining further comment. The team says the now-vacated position has yet to be filled.
Upon hiring David, Eric Woolworth, president of the Heat group's business operations, said in a statement, "Jeff is supremely qualified to help us grow our business. He's a fantastic addition to our executive staff and we welcome him with open arms to our family."
According to the Heat's release at the time of the hiring, "David is a 12-year veteran of the NBA, 10 of those spent with the Sacramento Kings. In 2012, former Commissioner David Stern appointed him to serve as the Kings' Chief Revenue Officer. David led the organization through a new ownership transition and the development of Sacramento's new downtown arena.
"Among his many career highlights, David negotiated the $120 million landmark naming rights deal with Golden 1 Credit Union. As Kings CRO, David also developed and managed sales and marketing strategies for the Kings' parent company, which included a robust real estate portfolio of sports/entertainment venues, retail, office, hotel and residential projects. Prior to his role as Sacramento's CRO, David served as Kings' vice president of corporate partnerships. During a two-year stint at the NBA, David worked in global business where he developed comprehensive marketing programs for the NBA, WNBA, NBA Development League and USA Basketball."
