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Jay Rosen, Partner, Saul Ewing Arnstein & Lehr, Miami Jay Rosen, partner, Saul Ewing Arnstein & Lehr, Miami

The Florida Marlins recently made news when a profit-sharing deal with Miami-Dade County resulted in zero profits to the county, even though Jeffrey Loria sold his baseball team for about $1 billion more than what he paid for in 2002. In 2009, Loria signed a profit-sharing deal with Miami and Miami-Dade, which gave the Marlins public funds to build the stadium. Under that profit participation arrangement, Miami-Dade had the right to receive a portion of the net proceeds from the future sale of the team. However, when the team was sold last year, the county got nothing, in part because of the particular wording of the net proceeds calculation in the parties’ agreement.

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