James officially became a member of the Heat on July 9, completing a sign-and-trade six-year contract with the team. With the move, he became only the third reigning MVP to change teams and the first since Moses Malone in 1982. Although his contract would have allowed him to earn the maximum salary under the collective bargaining agreement, he took less money in order for Miami to be able to afford Bosh and Wade as well as further roster support. That evening, the Heat threw a welcome party for their new "big three" at the American Airlines Arena, an event that took on a rock concert atmosphere. During the gathering, James predicted a dynasty for the Heat and alluded to multiple championships. Outside of Miami the spectacle was not well-received, furthering the negative public perception of James.