Jeffrey Loria posts “Letter To Our Fans” in Miami newspapers

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Marlins owner Jeffrey Loria took out a full-page ad in the Sunday editions of the Miami Herald, Palm Beach Post and South Florida Sun-Sentinel and published a “Letter To Our Fans.” Here it is in all its glory:

LETTER TO OUR FANS

It’s no secret that last season was not our best — actually it was one of our worst. In large part, our performance on the field stunk and something needed to be done. As a result of some bold moves, many grabbed hold of our tough yet necessary decision only to unleash a vicious cycle of negativity. As the owner of the ballclub, the buck stops with me and I take my share of the blame where it’s due. However, many of the things being said about us are simply not true. I’ve sat by quietly and allowed this to continue. Now it’s time for me to resond to our most important constituents, the fans who love the game of baseball.

THE ROSTER

Losing is unacceptable to me. It’s incumbant upon us to take swift action and make bold moves when there are glaring problems. The controversial trade we made with the Toronto Blue Jays was approved by Commissioner Bud Selig and has been almost universally celebrated by baseball experts outside of Miami for its value. We hope, with an open mind, our community can reflect on the fact that we had one of the worst records in baseball. Acquiring high-profile players just didn’t work, and nearly everyone on our team underperformed as compared to their career numbers. Our plan for the year ahead is to leverage our young talent and create a homegrown roster of long-term players who can win. In fact, objective experts have credited us with going from the 28th ranked Minor League system in baseball to the 5th best during this period. Of the Top 100 Minor Leagues rated by MLB Network, we have six — tied for the most of any team in the league. We’ll evaluate this roster and possibly bring in additional talent based on our assessment of what we need. The very same naysayers who are currently skeptical once attacked us for bringing Pudge Rodriguez to the Marlins in 2003. More than any other, that move contributed to our World Series Championship.

THE BALLPARK

The ballpark issue has been repeatedly reported incorrectly and there are some very negative accustations being thrown around. It ain’t true, folks. Those who have attacked us are entitled to their own opinions, but not their own facts. The majority of public funding came from hotel taxes, the burden of which is incurred by tourists who are visiting our city, NOT the resident taxpayers. The Marlins organization also agreed to contribute $161.2 million toward the ballpark, plus the cost of the garage complex. In addition, the Marlins receive no operating subsidy from local government funding. The ballpark required that all debt service is paid by existing revenue. Furthermore, many are attacking the County’s method of financing for its contribution, but the Marlins had nothing at all to do with that. The fact is, with your help, we built Marlins Park, a crown jewel in our beautiful Miami skyline, which has won over twenty design and architecture awards and will help make us a premiere ballclub moving forward.

OUR FINANCES

The simple fact is that we don’t have unlimited funds, nor does any baseball team or business. Fans didn’t turn out last season as much as we’d like, even with the high-profile players the columnists decry us having traded. The main ingredient to a successful ball club is putting together a winning team, including a ncecessary core of young talent. Are we fiscally capable and responsible enough to fill the roster with talented players, invest in the daily demands of running a world-class organization and bring a World Series back to Miami? Absolutely! Is it sound business sense to witness an expensive roster with a terrible record and sit idly by doing nothing? No. I can and will invest in building a winner, but last season wasn’t sustainable and we needed to start from scratch quickly to build this team from the ground up.

COMMUNICATION

An organization is only as good as its connection with the community. We know we can do a better job communicating with our fans. That starts now. From this point forward we can ensure fans and the entire community that we will keep you abreast of our plan, rationale and motivations.

Amidst the current news coverage, it an be easy to forget how far we went together not so long ago. In 2003, I helped bring a second World Series Title to South Florida. We know how to build a winning team, and have every intention of doing so again. I know you share my passion for great Marlins baseball, my love of MIami and my desire to win again. We’re in this together and I humbly ask that we start fresh, watch us mature qjuickly as a ball club, and root for the home team in 2013.

Sincerely,

Jeffrey Loria

Eric Hosmer’s eight-year, $144 million contract isn’t that bad

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Late Saturday night, Kevin Acee of the San Diego Union-Tribune reported that the Padres and first baseman Eric Hosmer agreed to an eight-year, $144 million contract, the new largest contract in club history. According to Bob Nightengale of USA TODAY Sports, the contract includes an opt-out after the fifth year. Further, Hosmer will average $21 million per year for those first five years and $13 million for the final three years, so it’s severely front-loaded.

Hosmer, 28, had a career year last season, playing in all 162 games while batting .318/.385/.498 with 25 home runs, 94 RBI, and 98 runs scored in 671 plate appearances. Per Baseball Reference, Hosmer accrued 4.0 Wins Above Replacement, only one of six first basemen to do so. At No. 6, he was 0.4 WAR behind Anthony Rizzo and 0.4 WAR ahead of Logan Morrison.

Wil Myers had previously told the Padres he would accept a position change if the club were to sign Hosmer. He will be moving to the outfield as a result. The Padres now have a logjam in the outfield, so Jose Pirela could move moved to the infield. How the Padres plan to handle that situation remains to be seen.

The general consensus about the Hosmer signing once news broke was that it is laughably bad. Back in November, Dave Cameron — ironically now in the Padres’ front office — called Hosmer a “free agent landmine.” That thought hasn’t really changed among many writers. For example, using restraint, Dennis Lin of The Athletic calls the deal “a big gamble.” MLB Network’s Brian Kenny said Hosmer has at least three “red flags.”

FanGraphs projects the Padres to finish 71-91, so adding Hosmer isn’t likely to transform the club into a contender on his own. That being said, the Padres’ payroll was only at $70 million prior to the Hosmer signing, so the contract won’t hamstring them going forward. If the young nucleus of players — including Manuel Margot and Hunter Renfroe — perform as expected, the Padres could be a threat in the NL West relatively soon with plenty of cheap, cost-controlled players and having some experienced veterans like Hosmer and Myers could be useful for their intangibles — pennant race/playoff experience, clubhouse presence, leadership, etc.

Hosmer has had three seasons of 3.5 WAR or more, according to Baseball Reference. He’s had four between -0.5 and 1.0. Now entering his age-28 season, it’s hardly a guarantee he’ll be an All-Star-caliber player in 2018, let alone in 2022 when he is 32 years old. From a strict dollars-to-WAR standpoint in a complete vacuum, one could’ve done better than Hosmer at eight years, $144 million.

The Padres, however, aren’t a small market team; they just operate like one. Forbes valued the club at $1.125 billion last April. The Padres don’t have the financial muscle of the Dodgers or Yankees, but paying Eric Hosmer $18 million on average for the first five years of his contract won’t come close to hurting the organization in any way, shape, or form. More importantly, signing Hosmer shows the rest of the team and the fans a commitment to being legitimate, bumping the payroll up towards $90 million. That now dwarfs teams like the large-market Phillies, who opened up spring training with just over $60 million in player obligations.

In the grand scheme of things, the Hosmer signing is also a good sign given the standstill in the free agent market. Many veteran players — even reliever Fernando Abad, who posted a 3.30 ERA last season — had to settle for minor league contracts instead of guaranteed major league deals. Many others, including the likes of Jake Arrieta and J.D. Martinez, remain unsigned. The rumor that Hosmer wanted more than seven years and close to $150 million was laughed at last month. Agent Scott Boras was still able to get his client the deal he wanted, which could bode well for those still teamless. Martinez’s patience may yet be rewarded like Hosmer’s was; money may once again start flowing in the free agent economy.

In summation, the Eric Hosmer contract is good if: you are Eric Hosmer, related to or a friend of Eric Hosmer, a teammate of Hosmer’s, Scott Boras, a current or soon-to-be free agent, a Padres fan, and a baseball fan in general. The Hosmer contract is bad if: you are a penny-pinching owner of a Major League Baseball team, or someone who cares more about $/WAR than an actual good product being put on the field.