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Least respected owner in MLB: Jeffrey Loria?


OregonBird

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  • 3 years later...
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http://www.miamiherald.com/news/local/community/miami-dade/article198019154.html

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Jeffrey Loria’s lawyers have told Miami-Dade County not to expect any profit-sharing revenue from last year’s $1.2 billion sale of the Miami Marlins, according to documents released Friday.

The 2008 county agreement that had Miami-Dade fund the bulk of the $515 million government-owned stadium in Little Havana gave Miami-Dade and Miami the right to 5 percent of any profits Loria and partners might reap if they sold the team within 10 years. But Loria could deduct team debt, certain expenses and taxes tied to a sale, and county officials and team executives privately predicted Loria wouldn’t agree to give up any of his revenue from the October sale to Derek Jeter and partners.

 

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