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His net worth is estimated at less than $400 million, modest by major-league ownership standards, and he needed a $38.5 million loan from baseball to buy the Marlins for $158.5 million.

But Commissioner Bud Selig was willing to give another owner another try in Miami.
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While I am sure that his net worth is higher now due to revenue sharing $$ being kept after the minimal amount he spends on the team, but it wont be altogether too much higher. While the franchise itself, now worth around $240 million(LIINK, a large appreciation...Lorias net worth most likely hasnt changed at all. He is just not in the right financial echelon to own a baseball team. NHL team, yes, minor league baseball team, sure, MLB franchise? No way. He is poor when relative to a large # of owners. It is also why getting a new stadium with Loria in charge is not so much a good thing. He is putting so much of his own $$ on the line, one could estimate half or more of his net worth, that he would have even more reason to gut again, most likely losing a team cornerstone like Miggy. Maybe even Hanley by the time the stadium is truly complete.

His break came in 1999. The partnership that owned the moneylosing Montreal Expos was without a managing partner, and the 11 Canadian limited partners, including telecommunications giant BCE and the investment bank BMO Nesbitt Burns, were looking for outside investors. They turned to Loria, who wangled a 24% stake for $12 million and became managing partner. Stephen Bronfman, a member of one of Canada's richest families, and Canadian billionaire Jean Coutu hopped on board, too.

Loria says he nearly doubled payroll to $31 million, which led to increasing losses.

Eerily reminiscent of 2005 when he put a $63 million team on the field, highest in team history. They failed to play to expectations, Loria claims a loss, guts the team. To surprising(and albeit extremely beneficial financially to Loria himself) results.

And enrage his limited partners. They refused to meet the capital calls, they allege in a federal suit, because Loria "misrepresented important facts in an effort to destroy Major League Baseball in Montreal." They cite his decisions to pull the Expos off local radio and TV (lousy deals, says Loria)
The Marlins are no longer shown on free TV themselves.

And to stop free tickets to sponsors. They also claim he torpedoed plans for a new stadium for which they'd secured real estate, $5 million a year from the Quebec government to cover interest on a planned $67 million bond and $8 million in annual tax relief. Irrelevant, says Loria's lawyer, since there's nothing about the stadium in the contract.
While I dont think he sabotaged a stadium in Miami in the same way, putting Sampson in charge and certain other aspects of his decision making have been handled poorly.

The federal suit additionally claims that Loria conspired with Baseball Commissioner Allan (Bud) Selig, who is also a defendant, to take control of the team and move it to another city.
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More of the same. What is happening in Florida in regards to Loria and the Marlins is almost a carbon copy of what happened in Montreal, just without other owners involved.

Labatt Park was the name of a proposed baseball stadium that was to be built to house the Montreal Expos, replacing Olympic Stadium. Proposed in 2000, it was designed by the AXOR Group of Montreal and was to be an open-air stadium with a capacity of 36,287. It was to be built on the former Grand Trunk Railway Bonaventure Station site bordered by Rue St. Jacques, Rue de la Montagne, Rue Notre Dame and Rue Peel, two blocks south of the Bell Centre. Architecturally, the park was a departure from the retro ballpark trend; it would have featured an exterior glass wall and a postmodern design. Labatt signed on as the naming sponsor. The park was never built, and ultimately the Expos moved to Washington, D.C., becoming the Washington Nationals. The model of the park was given to the Canadian Baseball Hall of Fame, where it was destroyed by vandals on April 27, 2005.

Another strange but not quite as disturbing of a coincidence...the park Loria wanted built in Montreal was a smaller-than-normal capacity art-deco style stadium. The same exact kind of stadium he wants here. Not disturbing, but a possible omen of things that might just be to come.

So to surmise...I dont hate Loria. I truly dont. But he just doesnt have the financial resources to run a MLB franchise. Making money @ Dolphin Stadium isnt easy. No one will ever claim it to be. Thats one of the reasons Loria should of never been given the team in the first place. Handing a handicapped team to an already handicapped financially owner who had tried and failed with a previous organization that was handicapped in and of itself. Selig is as much to blame as Loria.

Another interesting note:
By the late 1980s Loria had turned his attention to baseball. He bought the Oklahoma City 89ers, the AAA club of the Texas Rangers, for $3.8 million in 1989, won a championship and sold the team for $8 million in 1993.
That triggered a clause in the partnership agreement that allowed him to dilute the interests of other owners down to 6%. Loria thus gained 94% of the Expos for roughly $30 million. He would soon sell the team for four times that amount.
A shrewd investor it can be said, but his track record is always sadly the same...buy low on a team, increase operating expense, achieve some modicum of success(well, not Montreal), gut team(not in AAA...really had no choice there) and sell high.

Its sad that he was allowed to buy the Fish and weigh them down when they were climbing the mountain in what was already a violent uphill struggle.
 

BroncoBob27

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And enrage his limited partners. They refused to meet the capital calls, they allege in a federal suit, because Loria "misrepresented important facts in an effort to destroy Major League Baseball in Montreal." They cite his decisions to pull the Expos off local radio and TV (lousy deals, says Loria)
The Marlins are no longer shown on free TV themselves.


Its sad that he was allowed to buy the Fish and weigh them down when they were climbing the mountain in what was already a violent uphill struggle.

Marlins not on free TV?? You mean our fans have to have cable or a dish to see them?? Is there any team that can be watched on local TV (the only stations you can get without cable/dish hook up)?? A local station that has no ther income other than airing about 150 games a year? And come to think of it, I don't know one person without either cable or a dish.
And you are going to have to explain exactly what mountain the team was climbing. Because all I saw was the team pushing John Henry up a mountain so he could afford to buy the BoSox. Right after he said he couldn't afford to pay for a ball park here by himself. At the very best the team was on a very low plateau.
 

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