The Titans\Vols\Dores\Whatever other sport thread(IT ALL GOES HERE)
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04-28-2011, 08:52 AM
Join Date: Feb 2002
Location: Miami, FL
Originally Posted by
See screwed expos to move team to.....Florida. I.e., the modern day Florida Marlins. He pockets millions each year in just revenue sharing, not to mention profit. Only spent money on the team this past season when the MLB essentially forced him to have over a 15 million dollar payroll. The guy is one of the scummiest owners in sports.
Loria does run the Marlins like a business, and it was embarrassing when the MLBPA forced him to spend more money. However, in 2009, before the MLBPA pushed them to increase payroll, the Marlins had $43M in player expenses and had a net operating cash outflow for the year. The only reason their cash position was stronger was due to the withdrawal of $52M in funds from a line of credit.
I can't speak for what he did with the Expos, and he's certainly no Mike Illitch in Detroit. But the Marlins have horrendous revenues and don't make nearly as much money as we would think. If the MLBPA succeeded in increasing the Marlins' payroll to $10M more than they spent in 2009, the Marlins are hurting.
I dislike Loria for other reasons. I don't like how they outwitted the City Commission and the Miami-Dade County Commission and convinced them to $500M of taxpayer money to fund a stadium for a private enterprise. Studies have shown that sports teams DO NOT add significant value to the greater metro areas. Instead, they simply redirect funds that would have gone to movies, amusement parks, and malls toward the sports team and the immediately surrounding area businesses.
That Miami-Dade, which is broke and has incredibly high poverty, unemployment, and uninsurance rates, could divert $500M in funds that could have been reallocated to better uses is just sickening to me. If that $500M was given to Baptist Health South Florida for the sole purpose of caring for the un/under-insured, it could have resulted in care for an additional 300k-500k over the period the bonds are outstanding.
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