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Financing of Marlins' new stadium being examined

The Securities and Exchange Commission is investigating the financing of the Miami Marlins' new downtown stadium. An SEC official says in a letter the probe is focused on whether any federal securities laws have been broken in the $634 million US stadium financing deal.
The Associated Press ·
The new Florida Marlins baseball stadium, seen here in June 2011, was more than 70 per cent complete with 10 months before opening day in April 2012. (J Pat Carter/Associated Press)

The Securities and Exchange Commission is investigating the financing of the Miami Marlins' new downtown stadium.

SEC subpoenas to the city and Miami-Dade County are seeking a long list of documents and records.

These include records of meetings between government officials and Marlins and Major League Baseball executives. The subpoenas also want campaign contribution records and documents related to taxation of stadium parking garages.

An SEC official says in a letter the probe is focused on whether any federal securities laws have been broken in the $634 million stadium financing deal.

The stadium is set to open for the 2012 season. The Marlins are on a spending spree to sign free agents including ex-Mets star Jose Reyes.

The SEC probe was first reported by The Miami Herald.

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