The Securities and Exchange Commission subpoenaed Miami-Dade County and the City of Miami seeking information on any investigation and analysis they did prior to issuing millions of dollars in bonds to pay for the stadium and adjacent parking lots. Although the Miami Marlins were not subpoenaed, the SEC also requested documents from the team, including:
- Documents concerning the team’s ability to help pay for the stadium;
- Records of campaign contributions that the team may have given to city, county and state officials; and
- Correspondence dating back to 2007 between the governments with team owners and lawyers, baseball commissioner Bud Selig, and former deputy baseball commissioner Bob DuPuy.
Besides bringing national attention to a major local news story, the SEC’s investigation could lead both the team and Major League Baseball to reveal sensitive and rarely seen financial records.
Author(s): Brooke P. Dolara
