The (pre-NBA Jam!) "HE'S ON FIRE" moment is genius and the type walks right up to the line of too cheesy without going over it, keeping in perfect tune with the heat's look and the feel of the city (that T!).
Two things: 1) why the awkward 90/10 ratio of slightly-too-dark red / yellow for the flame? We updated it to a more consistent gradation from a brighter red to orange to yellow. And 2) Why the outlined rim? Fixed that as well: black fill on white, white fill on black.
Biggest evolution here was replacing the italic varsity-style numbers with an extension of the logotype style. While we were at it, we secretly re-drew the wordmark to finesse a few details, and adjust how the angled lines match up with each other when the MIAMI and HEAT are stacked. Only other tweak was making the red a liiiiitle brighter.