SMILEY PLAYING WITH THE IDEA OF TAKING MARLINS PUBLIC
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).