Owner of the Miami Marlins, Jeffrey Loria, has put the club into the shopping window.
Forbes announced the news on Thursday, noting that Loria has quite a steep asking price: $1,7 billion.
The Marlins will host its very first All Star Game next summer and according to Loria this will put the club into the spotlights. Marlins Park will also host several World Baseball Classic games in 2017.
According to the Miami Herald “No one, including Forbes, thinks the Marlins will fetch such a high price as they themselves valued the Marlins at $675 million — which ranks 29th out of the 30 major league teams.
Only the Tampa Bay Rays, who are desperate to escape Tropicana Field in St. Pete, are valued less than the Fish. In 2012, the Los Angeles Dodgers sold for $2 billion.
According to Forbes, the Marlins do make a little bit of money even though team president David Samson says the team is “last in the league in revenue.Thanks to their $25 million in revenue sharing, the team made a $15 million profit during the 2015 season.”
Before Loria broke into Major League Baseball and ran the Montreal Expos aground, he was in baseball for decades, as he owned the Oklahoma City 89ers for example.
Loria originally purchased the Marlins for $158 million in a deal that brought John Henry the Boston Red Sox and shoved the Montreal Expos to Major League baseball and its owners.
The ballpark the Marlins are playing at, Marlins Park is owned by Miami-Dade County. It was supposed to spur income for the Marlins but instead the ballpark isn’t drawing as they had hoped it would be.
A few years ago, Loria was approached by a group of wealthy people that wanted to buy the Marlins but he did not have any interest to sell the team. Loria reportedly has not hired an investment firm to work on the deal, so he is likely only floating the $1.7 billion price tag.