mania Posted December 3, 2011 Share Posted December 3, 2011 Via the Miami HeraldFederal authorities have opened a wide-ranging investigation into the Miami Marlins’ controversial ballpark deal with Miami-Dade County and the city of Miami, demanding financial information underpinning nearly $500 million in bond sales as well as records of campaign contributions from the Marlins to local and state elected leaders.In a pair of lengthy letters delivered to government attorneys Thursday, the U.S. Securities & Exchange Commission gave the city and county until Jan. 6 to deliver everything from minutes of meetings between government leaders and Marlins owner Jeffrey Loria and Major League Baseball Commissioner Bud Selig, to records of Marlins finances dating back to 2007.According to the Miami Herald, J.P. Morgan gave a $91 million note – $80 million of which will go toward construction – that from 2041-47 will cost $118 million per year. In all, the county will spend $1.2 billion to pay off $91 million.One of the county commissioners who voted against the funding, Katy Sorenson, told the Herald: "It is very expensive money." The county is banking on inflation making $118 million a relative pittance by the 2040s, … Off The Top Rope: A Pro Wrestling Podcast Link to comment Share on other sites More sharing options...
pmoehrin Posted December 3, 2011 Share Posted December 3, 2011 Your saying the Marlins and Major League Baseball potentially bribed local officials to pass a massive public works project that would have zero chance of passing a public referendum vote?That's the craziest thing I've ever heard of in my life. And in Florida of all places. When has their ever been a story about government corruption in Florida? Link to comment Share on other sites More sharing options...
mania Posted December 3, 2011 Author Share Posted December 3, 2011 I am stunned that Jeffrey Loria is a piece of con artist.Absolutely shocked. Off The Top Rope: A Pro Wrestling Podcast Link to comment Share on other sites More sharing options...
pmoehrin Posted December 3, 2011 Share Posted December 3, 2011 I am stunned that Jeffrey Loria is a piece of con artist.Absolutely shocked.The same Jeffrey Loria who through his cheapness made it impossible for the Expos to remain in Montreal? Now your just talking crazy.Next your going to tell me the judges who shot down Norman Braman's lawsuit may have been paid off as well, just because the Marlins were not required to submit any financial data to backup their main argument for the stadium that they could not be a profitable or competitive team in their current home. Well I say good day sir. Come back when you have a more believeable story.Forget the fact that financially there is no way the Miami-Dade country government could ever recover their financial losses with this stadium, even if they owned the Miami Marlins, and from their perspective made no sense to build in the first place. There is no way corruption played a part in getting the Miami Marlins a stadium deal. Link to comment Share on other sites More sharing options...
Breakwood Posted December 3, 2011 Share Posted December 3, 2011 OITGDMLB Link to comment Share on other sites More sharing options...
WSU151 Posted December 3, 2011 Share Posted December 3, 2011 Really not much to see here. That 2041-47 note from JP Morgan will never come into play. Anyone who reads the financials on Deadspin then believes Jeff Passan's financial analysis oughta be checked into a mental hospital. Smart is believing half of what you hear. Genius is knowing which half. Link to comment Share on other sites More sharing options...
mania Posted December 3, 2011 Author Share Posted December 3, 2011 Maury Brown's take: He just obliterates Miami and the Marlins. Off The Top Rope: A Pro Wrestling Podcast Link to comment Share on other sites More sharing options...
rams80 Posted December 3, 2011 Share Posted December 3, 2011 Please tell me Miami bought its own parking lot as part of this. On 8/1/2010 at 4:01 PM, winters in buffalo said: You manage to balance agitation with just enough salient points to keep things interesting. Kind of a low-rent DG_Now. On 1/2/2011 at 9:07 PM, Sodboy13 said: Today, we are all otaku. "The city of Peoria was once the site of the largest distillery in the world and later became the site for mass production of penicillin. So it is safe to assume that present-day Peorians are descended from syphilitic boozehounds."-Stephen Colbert POTD: February 15, 2010, June 20, 2010 The Glorious Bloom State Penguins (NCFAF) 2014: 2-9, 2015: 7-5 (L Pineapple Bowl), 2016: 1-0 (NCFAB) 2014-15: 10-8, 2015-16: 14-5 (SMC Champs, L 1st Round February Frenzy) Link to comment Share on other sites More sharing options...
FiddySicks Posted December 3, 2011 Share Posted December 3, 2011 I wonder if having their owner locked away in a federal prison will hurt their chances at getting Albert Pujols... On 11/19/2012 at 7:23 PM, oldschoolvikings said: She’s still half convinced “Chris Creamer” is a porn site.) Link to comment Share on other sites More sharing options...
WSU151 Posted December 3, 2011 Share Posted December 3, 2011 I wonder if having their owner locked away in a federal prison will hurt their chances at getting Albert Pujols...The SEC isn't going after Loria or the Marlins. It's going after the city and county. The SEC can't send a private business owner to federal prison, unless the FBI gets involved. Good luck proving Loria did anything illegal. Making a profit and having the city and county take awful bait is not illegal. Smart is believing half of what you hear. Genius is knowing which half. Link to comment Share on other sites More sharing options...
dfwabel Posted December 3, 2011 Share Posted December 3, 2011 Please tell me Miami bought its own parking lot as part of this.Miami-Dade build the garages, but the lease agreement between them and the Marlins is big issue.The bonds are supposed to be tax free, but the primary use of the garages is for private business (in leasing them to the club), thus creating the problem for Miami-Dade. The municipality knew the agreement and should be stuck with it. The elected officials now crying wolf are illustrating their irresponsibility once again. Link to comment Share on other sites More sharing options...
TheOldRoman Posted December 4, 2011 Share Posted December 4, 2011 I wonder if having their owner locked away in a federal prison will hurt their chances at getting Albert Pujols...The SEC isn't going after Loria or the Marlins. It's going after the city and county. The SEC can't send a private business owner to federal prison, unless the FBI gets involved. Good luck proving Loria did anything illegal. Making a profit and having the city and county take awful bait is not illegal.They should send him to Guantanimo just to be sure. Link to comment Share on other sites More sharing options...
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