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holy wow
of course the write calls him Luria and the stadium Marlin Park so who knows if he's got his shit right
http://www.forbes.com/sites/mikeozan.../#39565af62919
in a facebook comment Maury Brown of biz of baseball said:
of course the write calls him Luria and the stadium Marlin Park so who knows if he's got his shit right
The latest buzz among sports bankers is that the Miami Marlins can be had for $1.7 billion.
Luria is an art dealer who originally became a baseball owner with a relatively small investment—$30 million—in the Montreal Expos--and was part of the controversial deal put together by then MLB commissioner Bud Selig that saw Loria swap his ownership of the Expos for the Marlins so that John Henry could unload the Marlins and purchase the Boston Red Sox.
In March we valued the Marlins (and the economics of their stadium) at $675 million, 29th out of the league's 30 teams. The Marlins had attendance of only 1.75 million in 2015, 28th in MLB, and attendance of 1.71 million in 2016, 27th.
The team posted an operating profit (earnings before interest, taxes, depreciation and amortizatoin) of $15 million during the 2015 season only because they received over $25 million in revenue sharing proceeds.
Marlin Park, which is owned by Miami-Dade County but run by the Marlins, was supposed to usher in new era for the Marlins. Instead, the $516 million ballpark has failed to deliver, partly because it opened at the tail end of the real estate crash when development in Miami ground to a halt. Add in the cost of repaying high-interest construction bonds and that figure rises to a jaw-dropping $2.4 billion over 40 years, which led me to call it baseball’s most expensive stadium disaster.
A couple of years ago Loria reportedly was being contacted by several wealthy people to buy the team but had no interest in selling the Marlins. Banker say Luria has not hired an investment firm to work the deal and is likely just floating a $1.7 billion price tag.
Luria is an art dealer who originally became a baseball owner with a relatively small investment—$30 million—in the Montreal Expos--and was part of the controversial deal put together by then MLB commissioner Bud Selig that saw Loria swap his ownership of the Expos for the Marlins so that John Henry could unload the Marlins and purchase the Boston Red Sox.
In March we valued the Marlins (and the economics of their stadium) at $675 million, 29th out of the league's 30 teams. The Marlins had attendance of only 1.75 million in 2015, 28th in MLB, and attendance of 1.71 million in 2016, 27th.
The team posted an operating profit (earnings before interest, taxes, depreciation and amortizatoin) of $15 million during the 2015 season only because they received over $25 million in revenue sharing proceeds.
Marlin Park, which is owned by Miami-Dade County but run by the Marlins, was supposed to usher in new era for the Marlins. Instead, the $516 million ballpark has failed to deliver, partly because it opened at the tail end of the real estate crash when development in Miami ground to a halt. Add in the cost of repaying high-interest construction bonds and that figure rises to a jaw-dropping $2.4 billion over 40 years, which led me to call it baseball’s most expensive stadium disaster.
A couple of years ago Loria reportedly was being contacted by several wealthy people to buy the team but had no interest in selling the Marlins. Banker say Luria has not hired an investment firm to work the deal and is likely just floating a $1.7 billion price tag.
in a facebook comment Maury Brown of biz of baseball said:
As we discussed on the podcast, Mike, I would expect interest in the club, even at this price. And nothing would be better than to see Loria out from underneath the Marlins. One of the worst owners in the history of the game.
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