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The Marlins Sale Watch Thread

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  • The Marlins Sale Watch Thread

    holy wow

    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.
    http://www.forbes.com/sites/mikeozan.../#39565af62919

    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.
    Originally posted by Madman81
    Most of the people in the world being dumb is not a requirement for you to be among their ranks.
    Need help? Questions? Concerns? Want to chat? PM me!

  • #2
    there's no way in hell he's getting $1.7 billion for the Marlins and this is basically a number you throw out to get people to leave you alone

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    • #3
      The fact that he has a price is encouraging. I'm the past he's just maintained they aren't for sale. Between this and the Romney report, hopefully where there's smoke, there's fire. $1.7 billion is a big number, but everyone laughed at the $2 billion price on the Clippers sale too.
      Last edited by fauowls44; 12-15-2016, 03:31 PM.

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      • #4
        Yeah this is a "I don't want to sell" price.

        For reference the Chicago Cubs were sold for $700 million in 2009. The Dodgers sold for $2 billion with that LA market and new TV deal.

        I don't believe Loria actually values this franchise at the level of the Dodgers.

        - - - - - - - - - -

        Given that this team is closer to the Padres than the Dodgers in terms of franchise positioning, and the Padres sold for $800 million in 2012, I'd say that is closer to the real price for the Marlins.

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        • #5
          Seattle sold recently for $1.6 billion, so of course he'd ask for a number above that. I doubt Loria gets $1.7B, but I would bet he gets over $1B. With a new stadium, new TV deal around the corner, and access to the Latin market, this team will sell for more than people think.
          Last edited by fauowls44; 12-15-2016, 03:57 PM.

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          • #6
            Mariners were valued at $1.4b.

            Marlins are valued at $675m

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            • #7
              Originally posted by HUGG View Post
              Mariners were valued at $1.4b.

              Marlins are valued at $675m
              Forbes values aren't a good way to determine sale price. There are only 30 of these things and they are worth what someone will pay. The Clippers were not valued anywhere close to the $2B they sold for. Besides, the Marlins current Forbes value is weighed down by the worst TV deal in the sport which expires in a couple of years.

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              • #8
                Forbes didn't value the Dodgers at $2 billion before they sold for that amount. It is entirely possible Loria will get $1 billion+ for the team. Now is the time to sell. Economy is relatively healthy and we're still in the middle of the TV rights bubble. Conditions might even improve if Trump/GOP pass a tax reform package. If the Rays relocate the Marlins TV contract could cover the entirety of the third largest state.

                If I were him I would market the team as an anchor for a real estate development. Gentrification continues to move along in the urban core and Little Havana is starting to see spillover effects.

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                • #9
                  The Tampa move is what I've been wondering about and how that would impact a new TV deal for the Marlins. I haven't really seen any new stuff as it relates to the Rays relocating though.

                  When is the TV deal for the Marlins up?

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                  • #10
                    In 2013, Forbes valued the Clippers at $430 million. They sold in 2014 for $2 billion. So yeah, Forbes values aren't a good indicator of sale price. Sports teams are rare and don't sell very often. The prices almost never go down in value. I don't think Loria just pulled the $1.7B number out of nowhere. That's the asking price because it's likely someone will pay something close to that for the team.

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                    • #11
                      Just remember it is alot easier to drop the price than it is to give a price and ask for alot more.

                      Likely get 1.2-1.4 BILLION

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                      • #12
                        The first time Loria has bought low and sold high?

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                        • #13
                          Originally posted by Namaste View Post
                          The first time Loria has bought low and sold high?
                          Hits McGhee?? The Loria strategy usually is buy low,wait to long to sell and then sell low

                          2 positives are

                          1 At least it is being mentioned and a price was named
                          2 He seems willing to only talk 2 year deal with everyone(Even the closers had offers that let them opt out after 2 years)

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                          • #14
                            Originally posted by MiamiHomer View Post
                            The Tampa move is what I've been wondering about and how that would impact a new TV deal for the Marlins. I haven't really seen any new stuff as it relates to the Rays relocating though.

                            When is the TV deal for the Marlins up?
                            I think 2022 or 2023. But if the Rays move I wouldn't be surprised if tries to Fox Sports renegotiate earlier to fill TV time in the summer. Tampa and Orlando are top 20 TV markets with Tampa being larger than Miami.

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                            • #15
                              Originally posted by Party View Post
                              I think 2022 or 2023. But if the Rays move I wouldn't be surprised if tries to Fox Sports renegotiate earlier to fill TV time in the summer. Tampa and Orlando are top 20 TV markets with Tampa being larger than Miami.
                              The deal runs through the 2020 season.

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