Miami-Dade’s feud with Jeffrey Loria has at least one more act in it: the profit-sharing drama. The county recently signed the Marcum auditing firm to scour the numbers once Loria’s accountants reveal how much the team says it owes taxpayers from the former Marlins owner’s $1.2 billion sale of the team to Derek Jeter and partners last week. Loria’s 2008 deal with Miami and Miami-Dade included payout provisions if he sold the team within six years of the 2012 opening of a county-owned ballpark built with more than $400 million in public dollars and about $150 million from the team. The deal requires the Marlins to pay the two governments 5 percent of the proceeds of a sale. Five years and six months later, the bill may be coming due. But with Loria able to deduct both debt and taxes paid on the sale, it’s not known whether he plans on notifying local governments that they’re entitled to any dollars from the transaction.
County hires auditors for possible fight with Jeffrey Loria over Marlins sale
Miami Herald | Oct 10