The poor keeps getting rich: The Florida Marlins and others exposed

by Scooby Snacks on Aug 26, 2010 1:16 AM EDT

Yahoo's Jeff Passan writes:

"The swindlers who run the Florida Marlins got exposed Monday. They are as bad as anyone on Wall Street, scheming, misleading and ultimately sticking taxpayers with a multibillion-dollar tab. Corporate fraud is alive and well in Major League Baseball.

A look at the leak of the Marlins’ financial information to Deadspin confirmed the long-held belief that the team takes a healthy chunk of MLB-distributed money for profit. Owner Jeffrey Loria and president David Samson for years have contended the Marlins break even financially, the centerpiece fiscal argument that resulted in local governments gifting them a new stadium that will cost generations of taxpayers an estimated $2.4 billion. They said they had no money to do it alone and intimated they would have to move the team without public assistance......."

http://sports.yahoo.com/mlb/news;_ylt=AoZ2Nw5VhY6XxuUqPUBmNasRvLYF?slug=jp-marlinsfinancials082410

New York Times link:

http://www.nytimes.com/2010/08/25/sports/baseball/25bats.html?_r=1&ref=baseball

Google news links:

http://news.google.com/news/more?pz=1&cf=all&cf=all&ncl=dEYtlqYM1M3PE5Mz0ZfeHPTSgGpbM

For some of you, this may be old news. Full team's financial statements can be found at deadspin.

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Read More: New York Yankees, Miami Marlins

Comments

Big corp disgusts me

by Brian5517209 on Aug 26, 2010 4:11 AM EDT reply actions

This isn't exactly surprising..

They function on a low payroll and Florida doesn’t exactly have an awful market to run out of. I’m sure other teams do the same thing.

"Winning is the most important thing in my life, after breathing. Breathing first, winning next." -George Michael Steinbrenner III

by Chris McKeown on Aug 26, 2010 8:54 AM EDT via mobile reply actions

excellent read

really pathetic on the owners part and Dade County….

by Soriano NY 12 on Aug 26, 2010 9:34 AM EDT reply actions

my big questions are:

Is this fraud by the Marlins?

If so, is it a punishable offense (legally) and can they be taken to court for it?

Will this finally force MLB to change their revenue sharing rules so that teams receiving money from other teams are forced to spend that specific money on player development rather than pocketing it?

Only time will tell for the last 2 questions of mine. I hope that Loria gets his day in court because this is another injustice, against the other owners in the league and against the citizens of Florida (specifically Miami-Dade County).

It’s funny that the Marlins are now saying that the leak was illegal and should be found and prosecuted, all the while ignoring the fact that they have done something possibly illegal and definitely unethical.

by phonty on Aug 26, 2010 9:50 AM EDT reply actions

Dream, dream, dream…

"Have faith in the Yankees, my son. Think of the great DiMaggio."

by jscape2000 on Aug 26, 2010 10:58 AM EDT up reply actions

I don't think it's illegal

Don’t they have the option of spending the money however they’d like?

Either way… it’s something I wouldn’t pride my team on and that’s unfortunate for Marlin fans to have such poor ownership of their beloved team.

"Winning is the most important thing in my life, after breathing. Breathing first, winning next." -George Michael Steinbrenner III

by Chris McKeown on Aug 26, 2010 11:13 AM EDT up reply actions

think about it this way

with revenue sharing in place, how would you feel if you were the Steinbrenners (since you put the most into revenue sharing) and you found out that another MLB owner was pocketing the money you’re giving them for their team?

I believe in the Church of Baseball

by Frank Campagnola on Aug 27, 2010 11:01 AM EDT up reply actions

I would obviously be enraged

But that’s part of the game… they’re free to do whatever they’d like with the money. Do I agree with what they’re doing? Absolutely not. They’re part of the reason that the competition can be tipped in favor of big market teams. If you don’t invest money in your team, you aren’t going to win. That’s it.

Yankees accept that they have to pay a luxury tax every year as a means to try and balance the game a bit more. It’s honestly just a disgrace to baseball and a huge slap to the face of every Marlin fan.

"Winning is the most important thing in my life, after breathing. Breathing first, winning next." -George Michael Steinbrenner III

by Chris McKeown on Aug 27, 2010 1:44 PM EDT up reply actions

See, I don’t agree with that argument. If they are allowed to do whatever they want with their money, then why aren’t we?

I don’t think the Steinbrenners are like, “hey guys, would you like to give away tens of millions of dollars to help other teams?” “Sure! That’ll be fun!”

If we’re being forced to give away some of the money that we earned for the sake of competitive balance, why can’t they be forced to spend said money also for the sake of competitive balance.

Either it’s the free market and everybody gets to spend what they make, in which case there is no revenue sharing, or else there are artificial constraints to try and level the playing field. There can’t be ONLY artificial constraints to tax the Yankees, but then once we are taxed, that money can be used for profit or personal gain.

It’s not their money to just use however they want when it’s being forcibly taken from other teams. The money comes with strings, and they need to honor that or else not get the money.

Questions or thoughts? Email me at duggan2423(at)gmail(dot)com

by Lord Duggan on Aug 27, 2010 3:02 PM EDT up reply actions

Yeah I see your point

Which I do tend to agree with the more I think it over.

"Winning is the most important thing in my life, after breathing. Breathing first, winning next." -George Michael Steinbrenner III

by Chris McKeown on Aug 27, 2010 4:28 PM EDT up reply actions

If you or I did something like this, it would be illegal...

but this is America where the Constitution clearly states that if a billionare does it, it’s not illegal.

by garp on Aug 26, 2010 11:24 AM EDT up reply actions

this

by Brian5517209 on Aug 26, 2010 10:24 PM EDT up reply actions

You would think so they said thy didn't have the money to build the stadium

BUT these guys are pro scumbags so I am sure their lawyers had them word what they have said carefully so they can’t get in trouble or left wiggle room to get out of any trouble that would arise if this info ever got out.
Yeah of all the counties that could not afford this kind of debt, this one is near the top of the list…smh

"Sorry bro, he Jason Bourned me"- Drama

by BL3ACH on Aug 31, 2010 11:32 AM EDT up reply actions

fuckin disgusting

IT IS HIGHH, IT IS FARRR, IT ISSS caught by the catcher.

by Cup Noodles on Aug 26, 2010 9:55 AM EDT reply actions

The Marlins claim that they're "saving up" to buy a new stadium, that's why they are horading cash.

Do I believe them? I don’t know, but their present stadium does suck, unless you’re playing football in it.

The Pirates’ finances were also outed. They are spending only $2 million more in payroll than they were in 1992, the last time they had a winning record. They claim that “we’re not trying to lose.” This is not the same as “We’re trying to win.”

by designatedquitter on Aug 26, 2010 11:35 AM EDT reply actions

+1

They could care less about their franchise.

"Winning is the most important thing in my life, after breathing. Breathing first, winning next." -George Michael Steinbrenner III

by Chris McKeown on Aug 26, 2010 12:02 PM EDT up reply actions

Why does this not surprise me?

They didn't let me out, they just gave me a day pass.

by TheMelkman on Aug 26, 2010 3:19 PM EDT reply actions

OK, Jeffrey Loria offered his excuse in this article...

http://www.fanfeedr.com/mlb/2010/08/24/statements-show-marlins-made-49m-in-2008-09

But what are excuses for teams like the Pirates, etc.?

by Scooby Snacks on Aug 26, 2010 5:32 PM EDT reply actions

http://sports.espn.go.com/mlb/columns/story?columnist=stark_jayson&page=rumblings100826

by Scooby Snacks on Aug 27, 2010 12:38 PM EDT reply actions

What’s new? Isn’t this the same scam that Washington runs with our Social Security payments :>(

by BrooksvilleBomberFan on Aug 27, 2010 1:41 PM EDT reply actions

lol

"Winning is the most important thing in my life, after breathing. Breathing first, winning next." -George Michael Steinbrenner III

by Chris McKeown on Aug 27, 2010 1:44 PM EDT up reply actions

For whatever it's worth, the revenue sharing era is not the beginning of MLB teams sucking for inexcusably long periods of time.

During what many people inexplicably regard as the “Golden Era” of the 1950s, there were plenty of teams that could barely make payroll and sold off their stars just so they could. (The A’s, for example, were regarded as the Yankees AAAA farm team for doing just that). Other clubs were run strictly as employment opportunities for the owners’ idiot offspring and drinking buddies (Red Sox of the ‘beloved’ Yawkey era).

I could on, but I think the point is made. The St. Louis Browns, Washington Senators, Chicago Cubs, Pittsburgh Pirates, and Phillies didn’t just have “off-decades” they were undercapitalized amateurish old- boy gangs.

At least the present crop of permanent losers is making enough money to keep the franchises from having to leave for another city like the Dodgers, Giants, Senators, Browns, and A’s all did.

by designatedquitter on Aug 30, 2010 10:27 AM EDT reply actions