Former Marlins owner Jeffrey Loria recently told Miami-Dade County they weren’t getting a hot cent out of him from the sale of the team — something they were expecting based on an agreement made at the time of the sale — and in response the country turned around and sued both Loria and the franchise.
Judge sides with Miami-Dade County in early stages of Jeffrey Loria lawsuit
County and city lawyers can now start looking into his claims.
Photo by Marc Serota/Getty Images
Fun!
In a hearing on Thursday, a judge ruled in the county’s favor and granted them more time to demand a share of the profits they believe exist. According to the Miami Herald, the judge ruled that “there is no detailed calculation” in the report Loria supplied, which is “a problem.”
The judges’ ruling simply sides with the team that there needs to be further investigation into Loria’s no-profits claim to figure out whether there is actual legitimacy to them. It doesn’t grant the team the money right now, but based on the reports the judge is blatantly skeptical of what Loria is claiming. Lawyers for the county and city can now “begin requesting financial documents from Loria through the court.”
Part of the ruling’s reasoning stems from the fact that Loria paid a financial advisory firm $29 million for their services. That financial advisory firm? Founded by Joel Mael, Marlins vice chairman when Loria owned the team. That’s not fishy at all!
With documents now able to be pulled and Loria’s accounting of his money able to be picked apart, this ruling looks like it’s setting things up to get interesting in this lawsuit.
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