MIAMI – For the first time in over 20 years, the Miami Heat will no longer play in the American Airlines Arena. The team isn't moving, but the name of the building will change.

The airline released a statement Wednesday confirming the company will relinquish the naming rights of the downtown Miami arena.

According to the statement, American Airlines will remain as the official airline of the Miami Heat.

Miami Today reports Miami-Dade County is in advanced talks with a national company to replace American Airlines. A Heat spokesperson said he could not comment on the name change as it is "an open selection process administered by the Miami-Dade County government."

American Airlines has been the name on the front of the building since the arena opened on New Year's Eve 1999.