Real estate developer suing Pat Riley

June 10, 2010 at 2:32 PM
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FORY MYERS, Fla., June 10 (UPI) -- A Florida real estate developer is suing the president of the Miami Heat, claiming he never saw promised profits from a 1998 development deal.

Randy Hill claims in his lawsuit against Pat Riley that he helped facilitate the legendary basketball coach's purchase of 700 acres in Fort Myers for $12.5 million that has since yielded more than $50 million in sales, with the area now covered in housing developments and big box stores, The Miami Herald reported Thursday.

Hill claims a handshake deal between him and Riley promised him a sizable cut from sales of the property, but Riley said that deal never occurred and the agreement was Hill would be paid only for land he sold in bundles once Riley obtained it -- a function Riley said Hill never filled.

Hill is seeking the $5.5 million he claims he is owed. A trial date has been set for Aug. 28.

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