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Marlins: We will cooperate with SEC stadium probe

A Miami Marlins executive pledged Saturday on behalf of the baseball team to cooperate with a wide-ranging federal investigation of the financing of its new ballpark on the site of the old Orange Bowl.

P.J. Loyello, the team’s senior vice president for communications and broadcasting, issued the statement in response to a Miami Herald article about an ongoing U.S. Securities & Exchange Commission probe of the team’s controversial ballpark deal with Miami-Dade County and the city of Miami.

The SEC has given the county until Jan. 6. to provide financial information underpinning nearly $500 million in bond sales as well as records of campaign contributions from the Marlins to local and state elected leaders.

SEC investigators also seek minutes of meetings between government leaders and Marlins owner Jeffrey Loria and Major League Baseball Commissioner Bud Selig, and records of Marlins finances dating back to 2007

“We are aware of the investigation that the SEC is conducting on the issuance of the county’s and city’s stadium and parking bonds,” Loyello said in the statement.

“Of course, we will fully cooperate with the SEC’s investigation as needed and assist in whatever way possible.”

He added it would be inappropriate to make further comment because of the open investigation.

Marlins President David Samson told The Herald on Friday that the team had not received a subpoena.

The new ballpark is slated to open next year.



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