Tuesday, June 10, 2008

Public Service Announcement for a Public Servant

In a recent column by Dave Hyde, he notes that in a deposition regarding the Braman lawsuit, Miami-Dade mayor Carlos Alvarez states that he had never seen a Florida Marlins financial statement.

Yes Virginia, there is a P&L.

Please click on the spreadsheet to enlarge or print


ASponge said...

And it's amazing too how baseball teams are famous for "hiding profits."

Jorge Costales CPA said...

The Marlins have a strong incentive to keep trying to hide their profits, especially when those profits are driven by Revenue Sharing monies - monies which are intended to help low revenue teams compete.

What's not obvious is why the Player's Union & MLB Payer teams [Yankees, Dodgers, etc.] don't object more publicly to teams who just pocket their monies.

In the case of John Henry [Red Sox], maybe it's a way for him to keep his promise of financing a stadium for the Marlins.

Squathole said...

This adds to the wisdom of mandating not a salary cap, but a salary base. There really needs to be a limit on how small a team's payroll can be, particularly, as pointed out above, when high-spending teams are penalized by revenue sharing.

If that drives owners like the marlins' pack of apathetic pirates out of MLB, it's win-win.

David Samson said...