Federal Probe Will Not Affect Marlins’ Offseason Plans

The Securities & Exchange Commission subpoenaed information – including financial records and correspondence with commissioner Bud Selig – as part of a probe into the Marlins' new stadium deal according to Charles Rabin, Martha Brannigan, and Patricia Mazzei of The Miami Herald. Joe Capozzi of The Palm Beach Post hears from a team official that the probe will not impact their offseason plans, however.

“It will have no affect whatsoever on our roster plans,” said vice president P.J. Loyello.

The Marlins have been one of the most active teams this offseason. They've already agreed to sign Heath Bell for three years and $27MM, and they remain heavily involved in the bidding for Jose Reyes. C.J. Wilson, Mark Buehrle, and even Albert Pujols are on their radar as well.

The federal probe could take over a year to sort out, with the city and county having until January 6th to turn over correspondence and the club's financial records dating back to 2007.


Full Story | 41 Comments | Categories: Miami Marlins

41 Responses to Federal Probe Will Not Affect Marlins’ Offseason Plans Leave a Reply

  1. When you are done reading that article, you questions as to “how can the Marlins afford these free agents” should be answered…

    • Encarnacion's Parrot 4 years ago

      Bernard Madoff must’ve escaped from prison.

  2. Encarnacion's Parrot 4 years ago

    “How can this team afford a $515MM ballpark? We must investigaste!”

  3. wait so what are they looking into and what can happen if they get in trouble?

    • imachainsaw 4 years ago

      if for some miraculous reason the SEC isn’t bribed into suppressing their ‘findings’, jail-time is a possibility for the government officials involved. as far as Loria, I don’t really see much grounds for prison time for him, though I’d love for that to be the case. However it might be possible that stiff fines are imposed unto the Marlins for supplying misleading information as far as their financial standing and the possible (definite) charges of fiscally influencing (the ‘campaign contributions’) the government officials into approving the deal, possibly resulting into a forced auction of the club after all’s said and done. The sport of baseball needs to file a restraining order against Loria.

      • Backup_Slider 4 years ago

        Yeah, the real danger would be if the feds unearthed that Loria and his minions intentionally falsified the Marlins’ accounting records in order to increase their chances of securing funding for the stadium (if not outright bribed government officials to further increase their odds). If so, they could certainly sentence Loria and others to jail time and order that a certain amount of the club’s prospective revenues be diverted back to the city and county. And that conceivably could force an eventual sale of the club.

        • imachainsaw 4 years ago

          sounds like best case scenario. let’s hope for the best.

  4. imachainsaw 4 years ago

    the hypocrisy of Selig to go so viciously after McCourt but support a scumbag like Loria…. frankly doesn’t surprise me.

  5. Josh Gedert 4 years ago

    Reported!

    • vonhayesdays 4 years ago

      by the nice police 

      • imachainsaw 4 years ago

        poor baby eyes can’t handle being in a room with adults

        • vonhayesdays 4 years ago

          huh?

          • imachainsaw 4 years ago

            a response to the dude that got so offended over a word he had to report the post. those who can’t handle seeing ‘profanities’ should go to nickelodeon or cartoon networks forums instead. I’d assume we’re all old enough to know that words are just words.

          • vonhayesdays 4 years ago

            i understand now

  6. miamiroc 4 years ago

    Gotta love the SEC. They open an investigation not only after the deal is final but wait until the stadium is a couple of months away from being 100% complete. Wouldn’t the logical strategy be to do all this before the the stadium is built? But what is their even left to investigate? Its pretty clear, all the money the county gave is public record as is the what the Marlins contributed. This is the problem with regulation in this country its reactive instead of being preventative. Wait til the offense is committed and then slap the wealthy responsible on the wrist afterwards.  Its okay though, if the Marlins are anything like Citi or Goldman Sachs they’ll just promise the SEC investigator a high-salary fake job after he’s done with the agency so the probe falls flat on its face.

    • Commander_Nate 4 years ago

      Oh wait, you expected the government to work in the interest of the general public?

      LULZ!!!

  7. Henry Sanchez 4 years ago

    sure just like they said Madoff will not affect Mets

    • SRT 4 years ago

      Bingo.

      After all, what did fans expect the Marlins to say?  ‘We’ve got a problem and we’re pulling back all offers to FAs’?

      LOL

  8. johnsilver 4 years ago

    “The financing agreement to build the controversial new stadium in Little
    Havana left the county and city on the hook for almost 80 percent of
    the overall $634 million tab, which critics considered a giveaway to the
    Marlins.

    This is another reason why teams themselves should be forced to pay 100% costs for stadiums and bear the entire cost, just like it used to be. I can understand a local municipality MAYBE going as far as donating local land, but no further than that.

    Taxpayers always get stuck with the bill..Every..Single..Time..

    Far too many do not vote, or are not even aware of the under handedness going on in these deals, tho it did take down the mayor of Miami in this case..Maybe it should have taken down the entire City of Miami local government for allowing it to happen in the 1st place.

    Beyond comprehension and hopefully Stiff jail sentences are in order for anyone remotely involved.

    • stl_cards16 4 years ago

      The Cardinals financed their own stadium. It doesn’t happen often but it does happen.

      • vonhayesdays 4 years ago

        do you wanna cookie 

        • stl_cards16 4 years ago

          You want the lame post award?

          He said it never happens and I simply pointed out it does. It’s something that should happen more and the owners that do pay their own bill don’t get enough credit for it.

          • vonhayesdays 4 years ago

            well you being the mvp of lame i will take that award sir , seemed like you were gloating to me , my bad

          • johnsilver 4 years ago

            I gave you a “like” for that one and appreciated yourself bringing it to my attention…

            It was a breath of fresh air to see a team, for a change finance their own stadium…

            FYI… For those who did not know, or care…

            The Red Sox ownership were actually looking for money from new England last season to move in the fences at RF.. Imagine that!! One reason they did not? The move would have substantially modified the stadium and it could have been moved off the historical landmarks and lost tax dollars….

            I miss Tom Yawkey….

            Edit:

            I should add that 1 reason for the RF fence move in was to make them withing league guidelines for size.

        • Backup_Slider 4 years ago

          What kind of cookie? I may be interested.

          • vonhayesdays 4 years ago

            the kind you can only buy in a few states and have to have a card to get in the door

  9. Bud Selig and his fans in the media can pump up his reputation as having helped baseball all they want but Selig handed over two premier teams in two of the largest markets in the nation to absolutely horrendous owners. He’s played favorites with Loria when its obvious he’s a dishonest hack. His owner selection has been absolutely terrible. Mark Cuban? Hell no. Frank McCourt? Hell yes. 

    The CBA tries to fix competitive imbalance by addressing IFA signing, draft slotting and a new wild card team. Competitive balance would be helped a lot more if the Yankees and Red Sox were competing against clubs like the Mets, Dodgers, O’s and Cubs who could actually field teams competently. 

  10. JacksTigers 4 years ago

    What does this mean?

    • miamiroc 4 years ago

      In the end, it means absolutely nothing. They opened a fake investigation that won’t lead to anything at all.

      • JacksTigers 4 years ago

        So the government is investigating the Miami Marlins and not the city of Detroit? Stupid people.

        • rsanchez1 4 years ago

          Obama doesn’t need the embarrassment right now.

          • JacksTigers 4 years ago

            The embarrassment of fixing one of the countries most important cities? I’m not following.

      • $4555515 4 years ago

        how do you know in the end it means absolutely nothing?
        can you walk me through your calculations?

  11. Commander_Nate 4 years ago

    The SEC should investigate those new uniforms while they’re at it.

    • imachainsaw 4 years ago

      that’s more of a job for the fashion unit of the Miamin PD

    • greggofboken 4 years ago

      Still time to take advantage of the synergy.  Switch to orange jump suits.  Compliments Hanley’s dye job nicely.

  12. esteban_none_a_loaiza 4 years ago

    OUCH!!!

  13. rsanchez1 4 years ago

    LORIA, you have some SPLAININ TO DO!

  14. FacelessGeneralManager 4 years ago

    Somethings Fishy here.

  15. $4555515 4 years ago

    im curious how some of the posters on here came to the conclusion that this in the end will mean abosolutely nothing?

    can you guys walk me through your calculations?

    • imachainsaw 4 years ago

      rich people tend to buy their way out of trouble. it’s why poor people go to prison and rich people get stuff like ‘house arrest’ or ‘probation’.

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