Jeffrey Loria

Last updated
Jeffrey Loria
Born
Jeffrey Harold Loria [1]

(1940-11-20) November 20, 1940 (age 83)
Manhattan, New York City, New York, U.S.
Alma mater Yale University
Columbia Business School
Occupation(s)Entrepreneur, author, professional sports franchise owner
Parent(s)Ruth Ost Loria
Walter J. Loria

Jeffrey Harold Loria (born November 20, 1940) [2] is an American entrepreneur, author, and the former owner of the Montreal Expos (now the Washington Nationals) and Miami Marlins of Major League Baseball.

Contents

Early life

Loria was born and raised in a Jewish family [3] in Manhattan, the son of Ruth (Ost) and Walter J. Loria, a lawyer. [4] [5] [6] Loria took an early interest in baseball, attending his first New York Yankees game in the late 1940s. Loria attended New York City's Stuyvesant High School [7] and Yale University, where he initially took pre-med courses. With a requirement to take a history class, Loria chose art history.

After college, he worked in a newly established art-buying program for Sears, launched with the help of actor Vincent Price. In 1965, at the age of 24, he opened his business, Jeffrey H. Loria & Co., on Manhattan's Upper East Side and wrote a book, Collecting Original Art. He specializes in 20th-century masters, and his collection includes works by Pablo Picasso and Henry Moore. Loria graduated from Columbia Business School in 1968 and published his second book, What's It All About Charlie Brown?. Co-written with Pat K. Lynch, it is a look at life through the Peanuts comic strip.

Montreal Expos

In 1989, Loria purchased the Oklahoma City 89ers, then a Triple-A affiliate of the Texas Rangers. The team won the American Association championship in 1992. Loria sold the team in 1993 and began looking to buy a Major League team. He lost out to Peter Angelos in his bid to purchase the Baltimore Orioles in 1994.

On December 9, 1999, he bought a 24 percent stake in the Montreal Expos for $18 million CAD (approximately $12 million USD) and became the managing general partner. He'd initially considered buying the team in 1991 from founding owner Charles Bronfman, but Bronfman balked at Loria's demand for a controlling interest and the team was subsequently sold to then-team president Claude Brochu instead. Loria headed an ownership group that included the city of Montreal, several Montreal businesses, and Stephen Bronfman, Charles' son. When a series of cash calls over the next two years went unanswered, Loria ended up with 93 percent of the team at a valuation of US$50 million. [8]

One of Loria's first acts was to reiterate demands for a new park for the Expos to replace Olympic Stadium, of which he bluntly said, "We cannot stay here." [9] He lost a considerable amount of goodwill with Expos fans when the team was not able to reach an agreement for television and English-speaking radio coverage during the 2000 season, as the Expos tried to increase their revenue from broadcast rights. He also sought more public funding for a planned downtown ballpark, Labatt Park. [8] However, the provincial and municipal governments balked at committing more money to the project. Premier Lucien Bouchard said that he could not support using public funds to build ballparks when the province was being forced to shut down hospitals. Additionally, Bouchard did not like that Olympic Stadium still had not been paid for 25 years after being built, [8] [9] and ultimately wouldn't be paid for until 2006.

Sale of the Expos

In 2002, as part of an orchestrated move with Bud Selig and then-Marlins owner John W. Henry, Loria sold the Expos to a partnership of the other 29 major league clubs for $120 million. In effect, the Expos were sold to the commissioner's office (being owned by the league). Henry then sold the Marlins to Loria for $158.5 million, including a $38.5 million no-interest loan from MLB. [10] The deal was approved by the other owners before Loria and Henry signed the contract, and paved the way for Henry to buy the Boston Red Sox. [11] Loria moved the Expos' entire front office staff, on-field staff, office equipment and computer equipment to Florida. [12] MLB's plans to contract the Expos and Minnesota Twins failed, as the Twins were compelled to fulfill the terms of their lease at the Hubert H. Humphrey Metrodome.

Loria's partners in the Expos ownership consortium filed a Racketeer Influenced and Corrupt Organizations Act (RICO) lawsuit against Loria and Major League Baseball, eventually going to arbitration, with the arbitration panel finding in favor of Loria. [13] The Expos were ultimately transferred to Washington, D.C., as the Nationals. While the move was welcomed by baseball fans in Washington, it has led to many bitter feelings among Montreal – as well as Canadian – baseball fans. Many speculate that Loria never intended to keep the team in Montreal. [12] The feelings among some Canadian baseball fans are so strong that when Loria chose Remembrance Day to announce his team's new name and stadium, Richard Griffin, a well-known Canadian baseball columnist wrote:

It's ironic that Loria and the Marlins held their celebration in Miami on Remembrance Day because there's a generation of fans north of the border that will never forget (about how Loria's actions led to the Expos leaving town). [12]

Florida/Miami Marlins

Shortly after selling the Expos, Loria officially became owner of the Marlins on February 12, 2002. [14] Loria won his first World Series as an owner in his second full season in Florida, as the Marlins beat the Yankees four games to two in the 2003 World Series.

In 2013, Forbes evaluated the current value for the Miami Marlins at around $520 million. [15] As of May 12, 2009, the Marlins were 569–564 under Loria. [16] On November 11, 2011, the Florida Marlins officially rebranded themselves the Miami Marlins with a new logo, uniform, and color scheme. [17]

The franchise, which previously paid rent at Sun Life Stadium, had been trying for years to finance a new retractable roof ballpark. The City of Miami and Miami-Dade County both voted to approve construction of a new baseball stadium for the Marlins. Marlins Park is located in the area formerly occupied by the Miami Orange Bowl football stadium. Construction was completed by opening day 2012. Before the stadium deal was in place, the team shed star players to pare down payroll to among baseball's lowest in 2006, and was given permission to explore options for relocating. The team then worked with the City of Miami and Miami-Dade County, in a public/private partnership, to build the 37,000 seat ballpark. [18]

A deal with the City of Miami and Miami-Dade County was eventually approved and the Marlins agreed to contribute $155 million toward the construction of a new retractable roof stadium. They were also made responsible for any cost overruns for the stadium, set in the Little Havana section of Miami. Financing for the facility was completed with tourist bed taxes and funds reserved specifically for convention centers and sporting facilities. The deal required taxpayer general funds to compensate all cost overruns, but the facility was completed on-time and under budget. The Marlins receive 100% of all revenues from the stadium, but must pay all costs associated with operating the facility. The first Major League Baseball game in the new stadium was against the St. Louis Cardinals on April 4, 2012.

Following a disappointing season in which the Marlins finished last in their division, the Marlins completed a 12-player trade on November 19, 2012, with the Toronto Blue Jays as part of an effort to pare down the team's payroll. This led local and national sportswriters, as well as Marlins fans, to criticize Loria's stated intentions of building a competitive team. Much of the controversy stemmed from the demands on local government to fund much of the construction at Marlins Park. [19] Although the Marlins faced the threat of boycotts during the 2013 season from local residents, politicians, and sportswriters, Loria defended the November 2012 trade with the Blue Jays. He claimed that despite the Marlins' hefty payroll in 2012, the fans did not sell out the facility as imagined and that the organization was not winning and needed to "take a new course" in order to do so. [20]

In April 2013, Loria reportedly had Ricky Nolasco and José Fernández switch the games of a doubleheader in which they were scheduled to pitch, violating clubhouse protocol. [21] In July 2013, hitting coach Tino Martinez, who had been handpicked by Loria, resigned following allegations that he verbally and physically assaulted players, including Chris Valaika. When the organization considered promoting Valaika to the majors in August after Plácido Polanco was placed on the disabled list, Loria vetoed the transaction, and the team promoted Gil Velazquez instead. [22]

Loria had been called "baseball's most hated man", its "worst owner", and even one of the "worst owner(s) in sports history". [23] [24] [25] [26] He is a "widely despised" figure in South Florida; in 2012, a Miami Herald poll found him with a six percent favorability rating among Marlins fans and Major League Baseball fans in South Florida. [27] [28]

Loria sold the team in 2017 to a group led by Bruce Sherman.

Political controversy

In February 2017, it was reported that Loria had been in negotiations to sell the Marlins to the family of Jared Kushner, son-in-law of Donald Trump, and that the parties came to "a handshake deal". [27] At the same time, the Trump Administration was working to name Loria the United States ambassador to France. [29] In response, Kushner announced that his family would not buy the club if Loria was appointed to the position. [30] [27] Neither the appointment or the deal ultimately occurred.

Personal life

In 1980, he married Sivia Samson (divorced from attorney Allen Samson); they divorced in 2005. [31] His stepson, David Samson, served as the Marlins team president until September 2017. [31] In 2007, he married Julie Lavin Loria. [32]

Loria still runs his art dealership, and is an honorary member of the board of overseers of the Benjamin N. Cardozo School of Law of Yeshiva University in New York. He formerly served on the board of the Art Dealers Association of America. Loria divides his time between homes in New York and South Florida.

Related Research Articles

<span class="mw-page-title-main">Miami Marlins</span> Major League Baseball team in Miami, Florida

The Miami Marlins are an American professional baseball team based in Miami. The Marlins compete in Major League Baseball (MLB) as a member club of the National League (NL) East Division. The club's home ballpark is LoanDepot Park.

<span class="mw-page-title-main">Montreal Expos</span> Former MLB team in Canada, predecessor of the current Washington Nationals

The Montreal Expos were a Canadian professional baseball team based in Montreal. The Expos were the first Major League Baseball (MLB) franchise located outside the United States. They played in the National League (NL) East division from 1969 until 2004. Following the 2004 season, the franchise relocated to Washington, D.C., and became the Washington Nationals.

<span class="mw-page-title-main">Hard Rock Stadium</span> Stadium in Miami Gardens, Florida

Hard Rock Stadium is a multi-purpose stadium located in Miami Gardens, Florida, United States. The stadium is the home field for the Miami Dolphins of the National Football League (NFL) and the Miami Hurricanes, the University of Miami's NCAA Division I college football team.

<span class="mw-page-title-main">Wayne Huizenga</span> American businessman (1937–2018)

Harry Wayne Huizenga Sr. was an American businessman. He founded AutoNation and Waste Management Inc., and was the owner or co-owner of Blockbuster Video, the Miami Dolphins of the National Football League (NFL), the Florida Panthers of the National Hockey League (NHL), and the Florida Marlins of Major League Baseball (MLB).

<span class="mw-page-title-main">Washington Nationals</span> Major League Baseball franchise in Washington, D.C.

The Washington Nationals are an American professional baseball team based in Washington, D.C. The Nationals compete in Major League Baseball (MLB) as a member of the National League (NL) East Division. From 2005 to 2007, the team played in RFK Stadium while a new stadium was being built. In 2008, they moved to Nationals Park, located on South Capitol Street in the Navy Yard neighborhood of the Southeast quadrant of D.C., near the Anacostia River.

<span class="mw-page-title-main">USSSA Space Coast Complex</span>

USSSA Space Coast Complex is a baseball stadium and 13 diamond multi-sports facility in Viera, Florida, owned by Brevard County, Florida. Under its original name, Space Coast Stadium, it served as the spring training facility for the Florida Marlins (1994–2002), Montreal Expos (2003–2004), and Washington Nationals (2005–2016) and as the home field of the Brevard County Manatees (1994–2016). After a full year of renovations, it officially reopened in 2017 with its new name as a baseball/softball venue – part of a new multi-sport complex operated by the United States Specialty Sports Association (USSSA). Since 2017, it has been the home field of the USSSA Pride women's professional fast-pitch softball team.

<span class="mw-page-title-main">Roger Dean Stadium</span> Baseball stadium in Jupiter, Florida

Roger Dean Stadium is a baseball stadium located in the Abacoa community of the town of Jupiter, Florida. The stadium was built in 1998, holds 6,871 people, and features luxury sky-box seating, two levels of permanent seating, parking and concessions. The Roger Dean Stadium Complex is the only stadium in the country to host four minor league teams: the Jupiter Hammerheads and Palm Beach Cardinals of the Florida State League, and the Florida Complex League Marlins and Florida Complex League Cardinals of the Rookie-level Florida Complex League.

Claude Brochu, CM, is a Canadian businessman best known as former president and principal owner of the Montreal Expos.

The 2004 Montreal Expos season was the Expos′ 36th and final season in Montreal, Quebec, Canada. The team finished in fifth and last place in the National League East at 67–95, 29 games behind the first-place Atlanta Braves. After the season, the team – which had played in Montreal since its foundation as an expansion franchise in 1969 – relocated to Washington, D.C., and became the Washington Nationals, as Major League Baseball returned to Washington for the 2005 season after a 33-season absence.

The 2003 Montreal Expos season was the 35th season for the Expos in Montreal and its penultimate season in Canada. It involved the Expos attempting to win the National League East. On August 28, 2003, the Expos led the NL Wild Card, tied for first place with the Marlins, Astros, Phillies, and Cardinals, but faded away in the stretch and failed to make the postseason, finishing 18 games back of the Atlanta Braves in the NL East and 8 games back of the Florida Marlins in the Wild Card. The Expos' 2003 record of 83–79 was identical to the one they finished with the previous year. Part of this was due to the fact that when rosters expanded on September 1, MLB refused to allow the league owned team to add any players, saying they could not afford the cost.

<span class="mw-page-title-main">Fire sale</span> Sale of goods at extremely discounted prices

A fire sale is the sale of goods at extremely discounted prices. The term originated in reference to the sale of goods at a heavy discount due to fire damage. It may or may not be defined as a closeout, the final sale of goods to zero inventory. They are said to occur in the financial markets when bidders who value assets highly are prevented from bidding on them, depressing the average selling price below what it otherwise would be. This lowering of the price can cause even further issues because it may be inaccurately perceived as signalling negative information.

<span class="mw-page-title-main">Tampa Bay Rays</span> Major League Baseball franchise in St. Petersburg, Florida

The Tampa Bay Rays are an American professional baseball team based in the Tampa Bay area. The Rays compete in Major League Baseball (MLB) as a member club of the American League (AL) East Division. They are one of two major league clubs based in Florida, alongside the National League (NL)’s Miami Marlins. Since its inception, the team's home ballpark has been Tropicana Field in St. Petersburg, Florida.

<span class="mw-page-title-main">LoanDepot Park</span> Baseball stadium in Miami, Florida

LoanDepot Park is a retractable roof stadium located in Miami, Florida. It is the ballpark of Major League Baseball's Miami Marlins. It is located on 17 acres (6.9 ha) on the site of the former Miami Orange Bowl in Little Havana about 2 miles (3 km) west of Downtown Miami. Construction was completed in March 2012 for the 2012 season.

<span class="mw-page-title-main">Chris Valaika</span> American baseball player and coach (born 1985)

Christopher Andrew Valaika is an American former professional baseball infielder and current coach who is the hitting coach for the Cleveland Guardians of Major League Baseball (MLB). He played in Major League Baseball (MLB) for the Cincinnati Reds, Miami Marlins and Chicago Cubs. He was formerly an assistant hitting coach for the Cubs.

The Miami Marlins are a Major League Baseball team that currently plays in the city of Miami. Founded in 1991 as the Florida Marlins, the Marlins began play in 1993 in the suburb of Miami Gardens, and moved to the city in 2012, becoming the Miami Marlins at that time. The team has played their home games at LoanDepot Park since that time.

David P. Samson is a former American sports executive. Samson was the president of the Miami Marlins of Major League Baseball from 2002 until September 2017. He held the title of Executive Vice President with the Montreal Expos from 1999 to 2002, working in both cities under team owner and former stepfather Jeffrey Loria. He is the host of Nothing Personal with David Samson and co-host of The Sporting Class with former ESPN president John Skipper at Meadowlark Media. Samson was also a contestant on the reality TV program Survivor: Cagayan in 2014.

<span class="mw-page-title-main">Proposed Major League Baseball franchises in Portland, Oregon</span>

Major League Baseball (MLB) franchises have been proposed in Portland, Oregon on two occasions. The Oregon Stadium Campaign and the City of Portland were involved in creating a presentation for a committee in charge of relocating the Montreal Expos in 2003. The proposal included possible sites for new baseball parks. In the midst of the campaign for the Expos, the Oregon State Legislature passed a bill that secured US$150 million in funds for a new stadium, that can still be used. The proposal was passed up and Washington, D.C. was selected as the new home of the Expos. In 2007, the Florida Marlins considered re-locating to Portland. On both occasions, PGE Park, the minor league baseball park at the time, would have been used until a new stadium could be completed. Currently, the Portland metropolitan area is the largest metro area in the United States that houses another major league sports franchise without having an MLB franchise.

The Washington Nationals are a Major League Baseball team formed in 1969 as the Montreal Expos. In 2005, the Expos moved to Washington, D.C., and were renamed the Nationals. The franchise won the National League pennant in 2019, and has won its division five times. They won the World Series in 2019 against the Astros in game 7.

<span class="mw-page-title-main">2001 Major League Baseball contraction plan</span> Attempt to eliminate two teams from Major League Baseball

On November 6, 2001, the owners of the 30 teams in Major League Baseball (MLB) voted 28–2 to eliminate two teams for the 2002 season. The two teams expected to be eliminated, the Minnesota Twins and the Montreal Expos, cast the dissenting votes. According to Commissioner Bud Selig, the decision was made due to economic reasons, as "the teams to be contracted [had] a long record of failing to generate enough revenues to operate a viable major league franchise." Also factoring into the contraction plan was the two teams' inability to fund the construction of new ballparks to replace the outdated Hubert H. Humphrey Metrodome and Olympic Stadium.

Major League Baseball (MLB), the highest level of professional baseball in the United States and Canada, has undergone several rounds of expansion beginning in 1961, eventually reaching 30 teams with its most recent expansion taking place in 1998. MLB has discussed preparations for another round of expansion. Several investment groups are vying for an MLB franchise.

References

  1. ↑ "Loria - Weinstein - Marriage Announcement". The New York Times . June 13, 1965. Retrieved August 26, 2013.
  2. ↑ Rodriguez, Juan C. "Jeffrey Loria – South Florida". Sun-Sentinel . Retrieved August 26, 2013.
  3. ↑ Mendelsohn, Ezra Jews and the Sporting Life: Studies in Contemporary Jewry XXIII March 31, 2009
  4. ↑ "NewsBank for PBP | www.palmbeachpost.com". Nl.newsbank.com. Retrieved August 26, 2013.
  5. ↑ Published: February 27, 1992 (February 27, 1992). "Walter Loria, 84, Dies; Lawyer and Inventor". The New York Times. Archived from the original on December 31, 2014. Retrieved August 26, 2013.{{cite news}}: CS1 maint: numeric names: authors list (link)
  6. ↑ S.L. Price (March 25, 2013). "Less than eight months after he opened a stadium built in – 03.25.13 – SI Vault". Sports Illustrated. CNN. Archived from the original on May 30, 2013. Retrieved August 26, 2013.
  7. ↑ Smith, Chris (October 27, 2003). "No, I'm the Boss". New York Magazine . Archived from the original on November 7, 2007. Retrieved November 1, 2007.
  8. 1 2 3 Keri, Jonah (2014). Up, Up and Away. Toronto: Random House Canada. ISBN   9780307361356.
  9. 1 2 Smith, Curt (2001). Storied Stadiums . New York City: Carroll & Company. ISBN   0-7867-1187-6.
  10. ↑ Talalay, Sarah (February 17, 2002). "Firings left to smolder". South Florida Sun Sentinel. p. 1C.
  11. ↑ From 2002 ESPN Information Please Sports Almanac, Business and Media section
  12. 1 2 3 Griffin, Richard (November 15, 2011). "Griffin: Miami Marlins set to be a huge bonanza for Loria". The Star . Toronto. Archived from the original on November 16, 2011. Retrieved November 15, 2011.
  13. ↑ Pahigaian, Josh; Kevin O'Connell (2004). The Ultimate Baseball Road Trip. Guilford, Connecticut: Lyons Press. ISBN   1-59228-159-1.
  14. ↑ "Marlins All-Time Owners".
  15. ↑ "Miami Marlins on the Forbes". Forbes . Archived from the original on February 2, 2013.
  16. ↑ "Arturo Moreno, John Henry rank among best MLB owners". Sports Illustrated. CNN. May 8, 2009. Archived from the original on May 15, 2009. Retrieved May 6, 2010.
  17. ↑ Joe Frisaro (November 11, 2011). "Marlins set to take on new identity in Miami". MLB.com . Archived from the original on November 13, 2011. Retrieved November 11, 2011.
  18. ↑ http://www.marlinsnewballpark.co%5B%5D
  19. ↑ Rabin, Charles (November 15, 2012). "Doubters debate Miami Marlins owner Jeffrey Loria's intentions after player purge". The Miami Herald . Archived from the original on January 28, 2013. Retrieved August 26, 2013.
  20. ↑ "Marlins owner Jeffrey Loria says trade about last-place finish". ESPN. November 15, 2012. Archived from the original on July 28, 2013. Retrieved August 26, 2013.
  21. ↑ "UPDATE: Jeff Loria denies ordering the Jose Fernandez-Ricky Nolasco flip-flop | HardballTalk". NBC Sports. April 26, 2013. Retrieved August 26, 2013.
  22. ↑ Spencer, Clark (August 20, 2013). "Miami Marlins roster move considered a rebuke of Chris Valaika - Miami Marlins". Miami Herald. Archived from the original on September 27, 2013. Retrieved August 26, 2013.
  23. ↑ Boudway, Ira (5 April 2013). "Why Is the Marlins' Jeffrey Loria the Most Hated Man in Baseball?". Bloomberg.com. Bloomberg. Retrieved 31 March 2017.
  24. ↑ Snyder, Matt. "Ranking the five worst owners in baseball: An ode to Miami's Jeffrey Loria". CBS Sports. Retrieved 13 August 2021.
  25. ↑ Dahlberg, Tim. "Column: Is Loria worst owner in sports history?". The Washington Times. Retrieved 31 March 2017.
  26. ↑ Lund, Jeb. "The 15 Worst Owners in Sports". Rolling Stone. Retrieved 31 March 2017.
  27. 1 2 3 Bieler, Des. "Jared Kushner's family says it won't buy Marlins if Jeffrey Loria becomes ambassador to France". The Washington Post. Retrieved 31 March 2017.
  28. ↑ Kaufman, Michelle. "In popularity poll, Miami Marlins' Jeffrey Loria ekes out a win over Fidel Castro". Miami Herald. Retrieved 31 March 2017.
  29. ↑ Halper, Daniel (15 February 2017). "White House, State Department at odds over ambassadorships". nypost.com. The New York Post. Retrieved 31 March 2017.
  30. ↑ Jackson, Barry. "Loria appointment to Trump administration could doom proposed Marlins sale". Miami Herald. Retrieved 31 March 2017.
  31. 1 2 New York Observer: "Marlins Owner’s Society Divorcée in $7.1 M. Dollar Deal; Walton Grandkids Drop $2.7 M. on Chelsea Dorm" By Michael Calderone September 9, 2005
  32. ↑ Washington Times: "Marlins president: Multiple parties in talks to buy team" by Steven Wine April 11, 2017
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.