The Miami City Commission has approved the sale of the historic Olympia Theater and its adjoining office building to Sports Leadership Arts Management (SLAM), a charter school company co-founded by Armando Christian Perez, known as Pitbull. The unanimous 5-0 vote transfers ownership of the nearly century-old property for $10.
As part of the agreement, SLAM will invest at least $57 million to restore the theater’s performance space and seating area, with an additional $20 million allocated for renovations on the upper floors. Commissioner Joe Carollo stated, “This is the best of both worlds. They’re putting the money to upgrade the whole building, and we’ll still have the Olympia Theater.”
The Olympia Theater, which opened in 1926 and is listed on the National Register of Historic Places, has suffered from leaks, structural damage, and outdated systems. The SLAM agreement includes commitments to repair water-damaged decorative plaster, reconstruct dressing rooms, retrofit mechanical systems, and restore key exterior features such as the marquee and ticket booth.
The deal also resolves a legal dispute between Miami and heirs of Maurice Gusman—the developer who saved Olympia from demolition in the 1970s—who sued in 2019 over alleged violations related to city management. Under terms of this agreement, if SLAM completes restoration within five years after receiving permits, both parties will settle their lawsuit.
SLAM operates multiple charter schools in South Florida. Its plan for Olympia involves opening Miami Tech at Mater Innovation Academy within the complex. The new campus may partner with Miami Dade College for dual enrollment programs and would be renamed Miami Innovation & Arts Academy. The school must also provide public programming at least 180 days each year.
Public comment at Thursday’s meeting reflected divided opinion. Supporters—including many SLAM-affiliated parents and employees—backed the move. Millie Sanchez, SLAM co-founder and CEO, said: “Olympia is an iconic landmark that must be preserved. Our proposal saves the Olympia Theater, and it saves the city and its taxpayers from bearing that cost. The Gusman family, the original benefactor, supports this plan.”
Opponents argued against giving away a major public asset without wider input or competitive bidding. Longtime activist Elvis Cruz said: “Over 45 years of civic activism I have learned the city of Miami loves to do things for its own comfort and convenience, even if it causes discomfort and inconvenience for residents… Don’t sell the Olympia Theater. Please restore it.” Sandy Moise added: “City officials have been acting like lobbyists… What we are closer to is giving away one of Miami’s greatest public treasures in a backroom deal that does not reflect the will or best interests of people.”
