The Real Deal Miami

House raffle plan fizzles

December 29, 2009 01:32PM

Basketball star Dennis Rodman and the Fort Lauderdale home

Fort Lauderdale homeowner Miles Brannan won’t be raffling his $3 million home off to $30 raffle ticket purchasers, after all. Even with the help of spokesman and former NBA star Dennis Rodman, the drawing attracted only 63,000 to 65,000 ticket purchases, far fewer than the 300,000 that would have allowed him to pay off his debts and donate money to an area church. The charity that is overseeing the raffle, The Mission of St. Francis, said it will instead draw for a pot of cash: $800,000. It plans to divide the pot equally with the winner. Market observers said raffles to raise money in situations like Brannan’s often fail to raise enough money to succeed. Brannan said he wasn’t sure of his plans for the house, which he bought in 2005 for $2.35 million. [Sun Sentinel]