Truth & Rumors > MLB
MLB still making Marlins pay
Owner Jeffrey Loria did not have to repay Major League Baseball's $38.5 million loan because the Marlins did not get a new stadium within five years of his 2002 purchase of the team (Loria paid $120 million at the time). But MLB is requiring Loria to pay back $23 million of that loan (in $2.3 million installments over 10 years), and the Marlins have lobbied to get that reduced. But MLB isn't budging. ''There's no intention of modifying the loan terms,'' MLB president Bob DuPuy said. The Marlins paid the first installment last year and are allowed to skip this year.
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Jarah Mariano
Irina Shayk



Comments (13) Add A Comment
40 percent of the debt forgiven? Screw Ditech. I'm going to MLB for my next loan.
2 cents
Total Comments (59)
Loria is a piece of shyte. He brings in a lot of cash from MLB, doesn't reinvest it in the team, and pockets the money. This team should be sold and moved to Nashville, San Antonio, Vegas or somewhere else.
Tell it like it is
Total Comments (2552)
Agreed ^, he is in a huge way responsible for the Expos-death fiasco, not that MLB could be saved in Montr??al but it was sad for those of us who supported the Expos.
rhymeister
Total Comments (2198)
Why didn't they understand the loan agreement prior to signing the team into a 23 mil debt? What the .... and NOW your asking for a reduction to a problem created by your own stupidity.....amazing.
Circus Maximus
Total Comments (1264)
Let me get this straight: he gets the lux tx/rev sharing and doesn't reinvest/expand his own payroll, pockets this and now wants loan forgiveness? Holy bankrupt batman, what a country. That's not capitalism that's communism. No wait that's capitalism...shyyt still can't get it sttraight...
The Original Tony
Total Comments (9420)
If he doesn't pay, send Rocco and Knuckles to help him find his checkbook!
MrMiyagiJr
Total Comments (2662)
Here I thought the Marlins were still making MLB pay.
CardsFan2
Saint Louis , MO
Total Comments (2145)
Just because the major league level does not have big salary , tie does not mean that the minor league does not. They are in second place so he has talent on his team and his just gave their talented SS a long term deal. So they are moving in the right direction, They have multiple world series titles in the past 11 years. I wish my team had that recent history. While I agree he should pay, I think if possible anybody would try to lessen the a big time debt, I know I would at least try.
Hey Hey Hey...It's…
Washington , NJ
Total Comments (534)
Loria is an ASStute bussiness man !!! Where else can you go and get terms like this. I wonder if all the poor people who had the homes foreclosed on received his type of deal !!!
Mike C. 1927
Total Comments (4753)
They are in second place so he has talent on his team and his just gave their talented SS a long term deal. So they are moving in the right direction,
Hey Hey Hey...It's Fat Albert | 07/13/08, 04:59 PM
As good as Hanley Ramirez or any other of their young players might be, the Marlins are STILL dead last in attendance. Worse than the Royals, Pirates, and Mariners. (http://sports.espn.go.com/mlb/attendance) The people of Miami obviously don't care about all their young prospects, or their 2 World Series championships. The only time "Marlins fans" show up is for playoff games.
This team, in all seriousness, needs to be contracted. The fact that Loria can't land a stadium deal after winning the World Series is one of the many reasons why this franchise is a failure. Who knows how much talent they've wasted through their farm system? Odds are, the Marlins will have another fire sale in the next few years because the they know they're not going to make any money. That's exactly what happened after 1997 and 2003. Those players belong on teams that will treat them better anyway.
bonzo
Wynnewood , PA
Total Comments (94)
When the Marlins and Rockies were given expansion franchises in the same year, one of the conditions of entry was to have a baseball-only stadium. The Rockies had theirs built within 3 years of starting play. I never understood why MLB never held the Marlins to the terms of the expansion agreement, and that agreement was made LONG before Loria bought the team. I think Vegas would be a great place for the team...except for those Sunday afternoon games in July.
Mozart
Denver, CO
Total Comments (294)
I loved when Girardi told Loria to shut the **** up!!! Wish he'd do it again.
Chitownblues
Total Comments (1484)
Is this loan interest-free or something???
10 year repayment plan on only 23 million of it?
YODA
Total Comments (16867)
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