I'm pleased with this decision by the Marlins and think it makes perfect sense. The fact is, the Marlins will fail at the Orange Bowl due to its horrendous location. It's a worse location than the already terribly-located Dolphin Stadium, since the OB's absurdly far from Palm Beach and Broward while not any closer to most Dade county fans. Downtown would be incredibly successful, both for the team (closer to Dade county fans, right on top of thousands of downtown office workers, and guaranteed to get corporate suites sold out) and the city (the downtown development of restaurants and bars would be amazing). Why should the Marlins put up $200 million for a stadium that's going to fail? The entire value of the team is what, $300 million? Nobody with even the slightest business sense would invest 2/3 of their company's value for a project that has a high chance of failing. Everyone is trashing Loria, but I don't know what planet you are all on if you think any rational business would invest 2/3 of its value in a crapshoot. Get real.

 

$200 million for downtown is a sound investment because the returns are about as guaranteed as you can get. The Marlins are only doing what's prudent. I hope this gets downtown back on the drawing board. The Miami city council is absurdly stubborn in not re-considering the Gov't Center or Miami Arena sites which would cost little more than OB and would bring so much more in return.

 

I agree 100%. The OB is a terrible option. Downtown can truly change this team around. Though I still think that Loria is a cheap SOB, I think he's making a sound business decision.

 

yes, but it's looking like there's barely a chance they'll be able to get a stadium downtown.

 

2 years ago they were fine with the orange bowl location, why should now be any different? its not like new opportunities have come around.

The concept is called paying rent, not investing or mortgaging your property. Thus, while is sounds rational, the Marlins are not giving up 2/3 of their value. Rent will typically be paid from current operating revenues, not from appreciated assets. Nor do I even for a moment think the Marlins will go to a bank and obtain a loan against the title to the franchise. So, while we understand the semantics of the marlins "contribution", the reality in a business sense is quite different.

...Nor do I even for a moment think the Marlins will go to a bank and obtain a loan against the title to the franchise. So, while we understand the semantics of the marlins "contribution", the reality in a business sense is quite different.

 

They won't be able to to, the franchise itself is security against a default on payments, so there's no asset that hasn't already been pledged.

 

Rent is merely a convenient way to fund the bonds that underwrte the project.

 

That said, it inexcusable if it's true the Marlins have proposed cutting cut their contribution as much as I've been told. A year ago, six months ago, the onus was on the city to come back to the table without demanding the Marlins sell the team to a crony. Now the responsibility is on the Marlins and MLB to close the deal. Sanchez' comments were very telling but at the same time seems to confirm DuPuy's comments about the continued mounting losses for the franchise.

 

It makes some sense to renegotiate if in fact there is going to be virtually zero parking revenue but at this late hour both sides should of beyond this issue a long time ago.

 

Certainly is not a positive event.

 

 

I've said before I wasn't convinced they'd stay and yet with time running out there have been no offers, or rumors of talks that would indicate they have a fall backplan. And MLB keeps trying to make the deal happen here. It's perplexing.

...Nor do I even for a moment think the Marlins will go to a bank and obtain a loan against the title to the franchise. So, while we understand the semantics of the marlins "contribution", the reality in a business sense is quite different.

 

They won't be able to to, the franchise itself is security against a default on payments, so there's no asset that hasn't already been pledged.

 

Rent is merely a convenient way to fund the bonds that underwrte the project.

 

That said, it inexcusable if it's true the Marlins have proposed cutting cut their contribution as much as I've been told. A year ago, six months ago, the onus was on the city to come back to the table without demanding the Marlins sell the team to a crony. Now the responsibility is on the Marlins and MLB to close the deal. Sanchez' comments were very telling but at the same time seems to confirm DuPuy's comments about the continued mounting losses for the franchise.

 

It makes some sense to renegotiate if in fact there is going to be virtually zero parking revenue but at this late hour both sides should of beyond this issue a long time ago.

 

Certainly is not a positive event.

 

 

I've said before I wasn't convinced they'd stay and yet with time running out there have been no offers, or rumors of talks that would indicate they have a fall backplan. And MLB keeps trying to make the deal happen here. It's perplexing.

 

Your last paragraph is the only reason why i have hope , if there was a fall back city we would have heard about it by now , it appears as if it is Miami or bust or the Marlins will be a team without a home . This has been a heated issue between you and other posters but it i think it is time to realize that Loria just doesnt have the financial strength or connections to get this done . He needs a perfect deal in which everything is given to him and that just isnt going to happen in Miami or anywhere . Beggers cant be chosers and the Orange Bowl area was perfectly fine 3 years ago it should be fine today . We all know there are better locations but Loria doesnt have the money or connections to make the other areas a realistic possibility . I will say this because I dont want to get into the pissing match about the Teams finance's with the limited investment in payroll the last two years it is just a flat out lie on the ownerships part to say they are not making a huge profit . If you examine Dupay's actual quote about the losses mounting that is a rather vague quote in the sense the Marlins have lost money making opportunities via crappy lease , not great attendance , no parking revenue , however to say they were not one of the most profittable teams the last two years is simply not true..