Marlins execs funneled cash to themselves

[realmofotalk]

Per Y! Sports' Jeff Passan
Marlins execs funneled cash to themselves - MLB - Yahoo! Sports

On Page 34 of the documents, under the heading Note Y, is a transaction called “Management Fee.” A corporation named Double Play Company is listed as the Marlins’ managing general partner. The partner is paid a yearly sum. For the two years the documents cover, the fees were $2.6 million and $2.8 million. In 2009, the documents say, the fee was raised to $3.2 million.

Records from the Florida Division of Corporations show Double Play’s CEO is Jeffrey Loria. Its president is David Samson.

While the financial records of Double Play are unavailable because it is a private company, at least $8.42 million went to the managing general partner in the past two years. Though the documents do not show that Loria has taken a direct distribution of money as owner, it is undeniable that he plundered the team’s coffers as it received nearly $500 million in public funding for a new stadium and more than $75 million in revenue sharing from MLB.

This is as pathetically sleazy as the Dodgers charging rent on stadium property that they own. Loria and Samson give the McCourts a run for the title of Scumbag MLB Owners.

[redsfan28]

And tell me again why they deserve a new stadium?

[DirtyKash]

Lowlife Loria and Scumbag Samson are easily the worst and most corrupt owners in the history of baseball. This is outrageous but not surprising given who it is.

[Slyder]

Make em sale to Cuban's group. Mark Cuban would at least spend money and give the newspaper something interesting to report with the Marlins.