Report: Marlins owner willing to sell franchise for $1.7B
For anyone interested in making a splash, the Miami Marlins can be had for a price of $1.7 billion.
Marlins owner Jeffrey Loria could be looking to sell the franchise for that price, and is floating the team around sports bankers, according to Mike Ozanian of Forbes.
In January 2013, Ozanian referred to the new stadium as baseball's most expensive disaster.
Forbes released their annual list of the most valuable sports teams in March, and at $675 million, the Marlins ranked 29th out of 30 MLB teams. Loria looking to sell the franchise for just over a billion seems ostentatious, mostly due to the Marlins' poor operating profit of $15 million this season while ranking 27th and 28th in attendance each of the past two seasons.
Ozanian notes that a few years ago "wealthy people" were contacting Loria interested in purchasing the team but he refused. The Marlins promised fans a new era of baseball after constructing a brand new facility in 2012 that cost $516 million, and with the added cost of repaying high-interest construction bonds, the totals could drastically rise to $2.4 billion in the next 40 years.