We've written before about the deplorable public financing of stadium projects, and so we're excited to see the Miami Marlins' gleaming boondoggle face the SEC's federal scrutiny. Investigators have subpoenaed Marlins financial records and communications between Bud Selig and owner Jeffrey Loria, among many documents.…
Miami Mayor Tomás Regalado, citing those Marlins' financial statements that show what the city probably should've known already, now would prefer not to spend $100 million of the public's money on a boondoggly parking garage for the team's boondoggly new stadium.
Everyone is yelling at the Marlins; the A's might be collateral damage; and Chief Inspector Bud Selig is on the case. A look at the aftermath to our MLB Confidential series.
Our final document — at least for now — belongs to the Texas Rangers. Out of all the financial statements we've seen, it offers maybe the fullest picture of owning a team.
For detailed analysis of what the exposed MLB finances mean, keep it tuned to Maury Brown at Biz of Baseball. Spoiler alert: the rich get richer. [Biz of Baseball]
We've obtained financial statements for a number of baseball teams — containing perhaps some of the most closely guarded information in sports — and they offer a rare glimpse at how MLB franchises do brisk business in the modern era.