Forbes does Hatchet Job on the Marlins

Forbes released its annual evaluations of MLB teams. Here is the link to the Marlins:

#24 Florida Marlins - Forbes.com

In the section called "The skinny" they do a real hatchet job.

The Marlins are scheduled to move into their new, $515 million ballpark by the beginning of the 2012 season. The team is contributing only $155 million of the domed ballpark's financing, with taxpayers funding the rest.

First off, the Marlins are on contributing more than most teams have done in the past for a new stadium. The word "only" is deliberately misleading. Not to mention the Marlins are financially responsible for all construction overruns.

Second if they mean by "tax payers" they are referring to people who pay hotel and entertainment taxes, then that would be correct, but they aren't. They write as if it is an increase in taxes on all citizens of South Florida. It's not. Of course that is assuming you don't stay in hotels on the weekend. But if you do, you are chipping in.

Next, we get this from them.

Forbes has been showing for years that the Marlins have been among the most profitable teams in baseball, but politicians who voted for the publicly financed stadium said they were surprised to learn that the team was making so much money after the Marlins' financial documents were leaked. Owner Jeffrey Luria had been lining his pockets with money he has gotten from the league's revenue-sharing system instead of signing good players.

Dude, the name is spelled Loria, nice job of research.

Also Forbes has gotten it wrong  over the years concerning the money the Marlins made. We went over this when the documents were leaked.

Marlins Financial Statement

Maybe if Forbes hired a writer who knew something about finance or accounting or economics we wouldn't have to read this crap. But really, what do you expect from an organization that cheerleaded investment banks selling mortgage backed derivatives?

It pains me to no end to defend Loria, but wrong is wrong.

Oh, here is Forbes complete list on the value of MLB teams. If you care.

The Business of Baseball, 2011

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