It's not an exaggeration to say that the Miami Marlins find themselves at a pivotal financial juncture.
After acquiring the franchise for $1.2 billion in September 2017, Miami's new ownership group, led by Bruce Sherman and Derek Jeter, is entering Year 2 _ and a crucial stretch _ that could determine the organization's long-term financial sustainability.
Two of the crucial building blocks are the on-going negotiations for a new TV contract and the search for stadium naming rights. With one of the worst media rights deals in the league, Miami is leaving upwards of $60 million annually on the table and missing out on another consistent revenue stream with no partner attached to Marlins Park.
The organization is also attempting to re-integrate itself within the local business community in an attempt to secure more corporate partners. That means changing the toxic perception that's surrounded the team over the past two decades.
"(Previous ownership) had really undercut and undermined the community and a lot of promises were made and nothing really happened," said AutoNation chief marketing officer Marc Cannon, whose company recently renewed its partnership with the team after leaving during the Jeffrey Loria ownership.
The franchise is currently valued at $1 billion _ last in the league _ per Forbes' latest report. The Marlins also finished with the lowest amount of local revenue _ $72 million _ according to the study.
Without money, Miami can't hope to make any splashes in free agency or keep its good players long-term _ two key elements in creating a viable franchise for the foreseeable future.
What's the state of the Marlins financial future? Where does everything stand? Here's a deep-dive into the latest:
