Wednesday, December 07, 2011

Fish in a (pork) barrel

Wow. the newly christened Miami Marlins have signed Heath Bell (3 years, $27 million), Jose Reyes (6 years, $106 million) and have supposedly offered Albert Pujols a 10 year, $200 million deal.

But you say, the Marlins never drew any fans in their old park and had a tiny payroll. How are they doing it?

Well they got the City of Miami to put up around $500 million for building their new park (about 80% of the total cost).

In a way, you could say they are paying these contracts with house (or should I say taxpayer) money and have around $150 million or so still left.

Hey, I heard Manny Ramirez was un-retiring....

PS: apparently even the clueless Feds at the SEC who couldn't lay a glove on Bernie Madoff for almost 20 years, think there is something fishy (yes!!!!) about the Marlins deal with Miami and are investigating.


Gerardo said...

I imagine they used a multiplier of 3 or 4 on the project benefit estimate, so they should be able to sign Zambrano and maybe even Pedro Martinez, too.

And the project would *still* have big, beefy net benefits.

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