Art Basel wants to cut its annual rent at the Miami Beach Convention Center nearly in half and gain veto power over competing art fairs, according to public records obtained by the Miami Herald.

The world's largest art fair franchise currently pays the city close to $1 million per year in license fees. City officials have offered to slash that to $400,000 to $500,000 under a new long-term deal, emails between the two sides show. Miami Beach would also pick up $300,000 in police and fire costs that Art Basel has historically covered itself.

In exchange, the city wants Art Basel to commit for 10 years. Art Basel wants five.

A city-prepared chart pegged to a $450,000 starting rent shows Art Basel would save roughly $9 million over a decade compared with its current payment structure.

A vote that didn't happen

Maureen Bruckmayr, an Art Basel executive, emailed city officials on June 30 saying she hoped to bring a proposed deal before the City Commission on Wednesday, July 22. The vote never materialized.

Commissioner David Suarez, who sponsors the license agreement agenda item, has placed the deal on the commission calendar at least seven times since September 2025, according to commission agenda records. Each time, it went unvoted, listed as "not reached."

With the commission entering its August recess after the July 22 meeting, the deal cannot come to a vote until the fall. The 24th edition of Art Basel Miami Beach is scheduled for December 4–6 at the Convention Center.

Exclusivity demands

Beyond rent, Art Basel is seeking broader control over Miami Art Week. The fair wants a right of first refusal on the Ocean Drive sites used by the Untitled and Scope art fairs if those events ever leave. It also wants the city to create an expanded exclusivity zone to "help ensure that no new competing art events are introduced in the City of Miami Beach moving forward," according to the email correspondence.

Art Basel is also requesting a $150,000 payment tied to a separate city agreement with Untitled's owner. A representative for Untitled told the Herald that proposal "has not been presented to us."

The commission has separately directed the administration to negotiate a new five-year license with Untitled, per a December 2025 referral sponsored by Commissioner Laura Dominguez. Commissioners Joseph Magazine and Tanya Bhatt sponsored an April 22 referral to negotiate similar terms with Scope.

What the city gets

Art Basel drew approximately 80,000 visitors during its December 2025 edition and generated an estimated $570 million in economic impact across Miami-Dade County, according to Art Basel's spokesperson. The fair arrived in Miami Beach in 2002 and is owned by MCH Group, a publicly traded Swiss firm in which Lupa Systems, the investment vehicle of James Murdoch, holds about 42% of shares.

City Manager Eric Carpenter said negotiations remain constructive and cordial and that the city looks forward to continuing the relationship for many years to come.

The one unresolved ask from the city's side: a request that Art Basel contribute $100,000 toward transportation costs during the fair, including free water taxi and trolley service. Art Basel has not agreed.