The team won its second-consecutive NBA title Thursday with a 95-88 win over the San Antonio Spurs in Game 7 of the NBA Finals.
The parade will float through downtown Miami, starting at the corner of Southwest Eighth Street and Second Avenue and ending at American Airlines Arena, where the team will host a invitation-only rally for season ticketholders.
The parade was originally set for 11 a.m., but was delayed half an hour due to rain.
Now that the parade is underway, fans have covered up the streets wearing Heat merchandise.
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