Loria’s deal should shed light on publicly funded sports stadiums
Sunday, November 18, 2012
Miami Marlins owner Jeffrey Loria made headlines, several million dollars and more than a few enemies last week when he blew up his team’s roster by trading away essentially everything but the team’s equipment manager.
And, oh yeah, he gets to keep his brand-new stadium built mostly with tax dollars.
Loria spent last offseason luring in all-star talent in an effort to bring a contending team to the new stadium (including an attempt at Albert Pujols). By the middle of the season it was evident the Marlins weren’t going to compete. What continued was a few months of purging.
The Marlins payroll for 2012 was slightly more than $111 million. That was good for the eighth-highest in baseball, one spot ahead of the Cardinals. By trading Jose Reyes, Josh Johnson and Mark Buehrle (among others), the Marlins now have a payroll of $25 million.
Even before Loria dumped his team, the stadium deal was filled with controversy.