Marlins Owner Wayne Huizenga announced yesterday that
he plans to sell the team "after absorbing $200 million in
losses in five years," according to Larry Lebowitz of the
Fort Lauderdale SUN-SENTINEL. Huizenga: "[W]hen it comes to
the Marlins, we have not been a good business person. We've
let winning get in the way of some good business decisions
... and now it's time to recoup some of the losses."
Lebowitz writes that Huizenga is "trying to dress the sale
up for a large group," which could "spread the risk and the
profits, unlike the bottom-line oriented Huizenga" (Fort
Lauderdale SUN-SENTINEL, 6/27). Huizenga: "This isn't
anyone's fault in South Florida. This is Wayne Huizenga's
fault" ("SportsCenter," 6/26). Huizenga said he will not
keep a minority interest: "My family and our partners are
selling our combined ownership entirely." Huizenga also
said a new retractable roof baseball-only stadium would
"make no difference to our decision about selling the team."
The team currently receives none of the revenue from suite
and club seat sales at Pro Player Stadium, as those fees go
to pay off stadium debt. Huizenga: "[W]e intend to keep the
team in South Florida. It's important for our fans. ...
It's important for our loyal sponsors." The team has
retained Fort Lauderdale law firm Tripp, Scott to screen and
evaluate offers from potential buyers (Marlins).
BOTTOM-LINE ANALYSIS: The SUN-SENTINEL's Lebowitz
writes that Huizenga "has grown increasingly frustrated with
attendance" at Pro Player Stadium. Attendance has jumped
7,680 per game from last season, but the team averaged
29,549 through 33 home dates, below the '93 season average
of 38,310 and '94's 32,838. At the same time, the Marlins'
player payroll has more than doubled since '95 from $21M to
$49M (Fort Lauderdale SUN-SENTINEL, 6/27).
MLB TEAM REAX: Braves President Stan Kasten: "I said to
myself last winter, 'Something bad could happen to the
Marlins.' With that payroll and that facility ... sports in
the 90s is all about what kind of facility you have, and
what kind of deal you have." D-Rays Chair Vince Naimoli:
"Wayne is a brilliant businessman, and I think he has a plan
in mind" (MIAMI HERALD, 6/27). Acting Commissioner Bud
Selig: "[MLB] regrets Wayne Huizenga's decision to sell the
Marlins. ... [He] has made a significant impact during the
years he has been with the game" (SUN-SENTINEL, 6/27).
LOCAL REAX: In Miami, Dan LeBatard: "In a damning
indictment of this area and this sport, Huizenga quit
Thursday -- literally threw his hands up and quit. ... if
someone with Huizenga's touch can't make baseball work here,
who in God's name can?" (MIAMI HERALD, 6/27). Columnist
Dave Joseph: "He knew he was going to lose money months ago.
But he still told [GM] Dave Dombrowski to go out and spend
money like he was printing it in his basement. ... [W]ho
buys the white elephant Huizenga described?" (SUN-SENTINEL,
6/27). A HERALD editorial: "He may indeed sell the team,
but based on experience, another possibility is that he
could remain firmly in control while tapping 'other people's
money'" (MIAMI HERALD, 6/27).
