Marlins Owner Wayne Huizenga "apparently" is in no rush
to negotiate with FL business exec John Henry, who has
offered $150M for the team, because Huizenga wants "to make
as much as he can by selling SportsChannel Florida,"
according to Barry Jackson of the MIAMI HERALD, who cites
"several sources familiar with the situation." To maximize
SportsChannel's worth, Huizenga "wants the new owner to sign
off" on a 27-year TV deal for a rights fee that -- according
to team President Don Smiley's business prospectus -- "is
well below market value." Henry "is leery" of such an
agreement: "Signing a 27-year deal with SportsChannel might
not be in the competitive interests of baseball in South
Florida." The Marlins' current seven-year deal with
SportsChannel is "undervalued" by $15M, according to an
independent analyst cited in Smiley's prospectus.
SportsChannel's proposed extension through 2024 "would
increase the Marlins' annual TV revenue only five times, and
each time by just" $1M. Industry sources said that the 27-
year deal is "key" for Huizenga because it could allow him
to sell SportsChannel to Cablevision "for as much as" $125M.
Without Marlins rights, SportsChannel "might not generate
more than" $85M in a sale to Cablevision. MLB Commissioner
Bud Selig said that he has no concerns "about any connection
between the Marlins sale and the SportsChannel sale." He
also denied a local report that MLB might investigate
Huizenga's handling of the Marlins. Selig: "There is no
investigation" (Barry Jackson, MIAMI HERALD, 8/12).
DON'T CALL US: Despite his $150M offer, Henry said that
a Huizenga rep gave him "a we'll-get-back-to-you response."
Henry: "If the seller doesn't want to sell, you can't get to
the negotiating table. ... Their reaction was, 'We'll talk
with you later.' It wasn't clear why." Huizenga
spokesperson Stan Smith: "We're not going to handle
negotiations through the media" (SUN-SENTINEL, 8/12).
A CALL TO ARMS: In Miami, columnist Dan LeBatard, in an
open letter to Huizenga, who is on vacation: "We need you
down here -- so you can sell your baseball team, finally and
absolutely, and take a lifetime leave from the sport you've
forever soiled" (MIAMI HERALD, 8/12). In Fort Lauderdale,
Michael Mayo praises Henry for calling Huizenga's "bluff,"
and writes that with his non-response, "Huizenga comes off
looking more suspicious than ever" (SUN-SENTINEL, 8/12).
