Pitbull’s charter school taking over Olympia Theater in $10 no-bid deal

The Miami City Commission finalized a controversial deal to transfer ownership of the historic Olympia Theater in downtown Miami to a charter school company co-founded by rapper Pitbull, whose real name is Armando Christian Perez. On Thursday, city commissioners voted unanimously, 5-0, to sell the 1926 landmark and its adjacent 10-story office building to Sports Leadership Arts Management, or SLAM, for just $10. In exchange, Pitbull’s SLAM pledged to invest a minimum of $57 million into restoring the deteriorating venue’s interior performance space and seating area, with an additional $20 million budgeted for renovations to the theater’s upper floors.  “This […]This article originally appeared on The Real Deal. Click here to read the full story.