Hook, Line, and Sinker

As predicted, the Florida Marlins World Series championship has brought forth a generous offer of taxpayer subsidies for the valuable baseball franchise -- $73 million in bed-tax revenue in Miami-Dade County to help pay for a new $325 million stadium (the team itself will only pony up $137 million, and the shortfall may well come from the city, county and state). In case you were wondering, Miami-Dade has a budget deficit of $34 million this year, and the locally based Florida Philharmonic declared bankruptcy in May after failing to raise $64 million. Baseball Commissioner Bud Selig, meanwhile, pronounced that he was "extremely pleased" by the developments.

Comments

[Douglas Fletcher]

The symphony might do better in Dade County if they added a couple of conga players to the band.

[madman]

This is ****ing nonsense!!

[Madog]

Well, maybe if the Florida Philharmonic beat the Yankees they've be able to dupe sports fans in to forcing everyone to pay to support them too.

[Anonymous]

Matt:

I can't find Loria's net worth on the internet despite my best googling. If you or one your readers can, I'd appreciate it.

On another note, the politics of this could be very interesting. First, there's no way that Wayne Huizenga, a well-connected S. Florida billionaire, wants to lose the Marlins as a tenant. Second, Fort Lauderdale and Palm Beach Fans don't want to see a move south. Especially when that move south involves changing the name to the "MIAMI" Marlins.

[glenn]

Matt:

I can't find Loria's net worth on the internet despite my best googling. If you or one your readers can, I'd appreciate it.

On another note, the politics of this could be very interesting. First, there's no way that Wayne Huizenga, a well-connected S. Florida billionaire, wants to lose the Marlins as a tenant. Second, Fort Lauderdale and Palm Beach Fans don't want to see a move south. Especially when that move south involves changing the name to the "MIAMI" Marlins.

[Dwight Brown]

>the team itself will only pony up $137

Uh, did you really mean to say a total of 137 US dollars, or should that be $137 million?

==Dwight

[Anonymous]

The Florida Philharmonic needed $64 MILLION?? Sounds like an arts boondoggle.

[Anonymous]

Media reports peg his net worth at $400 million.

From an Oct. 7, 2003 profile in the Daily Oklahoman (Loria once owned a minor-league franchise in Oklahoma City):

"Even as a first-time owner in professional sports, Loria talked of owning a big-league franchise. He grew up in Yorkville, N.Y., only three subway stops from Yankee Stadium. An all-city infielder in high school, Loria went to Yale play baseball, but injuries forced him to give up the game. An elective art history class changed his life and began his career as an international art dealer, but baseball remained his passion. He attended 40 or 50 Yankee games a season. He cheered. He jeered. Two decades after his playing days ended, Loria decided he wanted to get back in the game.

"Loria's day job provided the means. One of world's leading private dealers of 19th and 20th century paintings and sculptures, his net worth is estimated at about $400 million."

And from a Feb 15, 2002 Associated Press profile:

"Loria is unlikely to use much of his own money toward a ballpark. 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."

[Matt Welch]

Inserted the "million" -- thanks!

[Quintal Anne]

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