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SMILEY PLAYING WITH THE IDEA OF TAKING MARLINS PUBLIC
Published September 22, 1997
Marlins President Don Smiley said Friday that partial public ownership "could be in the franchise's future," according to Barry Jackson of the MIAMI HERALD. Smiley, who is trying to put together an investment group to buy the team from Wayne Huizenga, said that "he would consider selling shares in the Marlins if he acquires the team." Jackson added that Smiley "has quietly submitted an offering circular to baseball attorneys" which explains his "approach to buying the team -- a process that includes securing 15 to 25 investors who would each pay in the $5 million range." Among members of Smiley's group include Huizenga's brother- in-law Whit Hudson. Joe Arriola, President of a Miami-based printing company and an uncle of Marlins P Alex Fernandez, is among others who are considering joining Smiley's group. Potential investors who have met with Smiley said that he has an interest in eventually building a baseball-only ballpark, "possibly near" the Heat's planned bayfront arena in Miami, and wants to trim payroll (MIAMI HERALD, 9/21).