Miami Marlins flushed with cash, ardor

These are not the Florida Marlins you know. First of all, the MLB team which was previously known as the Florida Marlins is moving to a state-of-the-art stadium in Miami next season, and as a result recently changed its official name to the alliterative "Miami Marlins."

More importantly, however, the 2012 Marlins appear to be willing to spend significantly more on its team than ever before. The Marlins, coming on the heels of a 70-92 season last year, have already signed free agent closer Heath Bell to a three-year, $27-million deal and gave All-Star free agent shortstop Jose Reyes a six-year, $106-million contract during this offseason. Last season, the Marlins had the seventh lowest payroll in MLB, spending less than $57 million on contracts for the 25-man roster, which was actually a modest increase from the team's payroll in 2010.

Now, seemingly out of nowhere, the Marlins appear to not only have money but are also willing to spend in order to build a long-term contender. While it is true that the Marlins had one of the largest payrolls in 1997, the year they won their first World Series title, their strategy involved spending more only on a short-term basis. That way, the team could truly contend for a year and then have a fire sale the next season (which is exactly what it did: the Marlins went from seventh in payroll in 1997 to 28th the next season and rebuilt essentially from scratch.) This offseason appears to be different, though. The Marlins are not only offering large sums of money to elite free agents, they are also offering multiple years in each instance, including a whopping 10-year offer to superstar free-agent first baseman Albert Pujols. (At press time, the Marlins had an outstanding offer to Pujols of 10 years in excess of $200 million.)

So, what has led to this drastic philosophical change? As any real estate agent worth his or her weight in salt will tell you, it comes down to three key variables: location, location and location. Not only do the Marlins have a new stadium to show off to their fans, it is located in downtown Miami, 20 minutes south of the old Sun Life Stadium. Whereas the Marlins constantly had attendance problems in their previous stadium, a cutting-edge ballpark in the middle of a heavily populated city should alleviate at least some of those problems. With higher attendance, the Marlins' revenue will increase, leading to more money to spend on Reyes, Bell, potentially Pujols and free-agent starting pitcher Mark Buehrle.

Jeffrey Loria, the Marlins' owner since 2002, has always been infamous for his (relative) frugality. Before purchasing the Marlins from previous owner John Henry, Loria owned the small-market Montreal Expos from 1999-2001. In both situations, Loria pressed for a new, taxpayer-funded stadium—only in Montreal, he was unsuccessful. By 2005, the Expos, who had virtually no fans, had moved to Washington D.C. to become the Nationals. Were it not for the New Marlins Ballpark in Miami, for which the team had to contribute 155 million dollars, the Marlins very well could have reached a similar fate.

Filling up the stadium and fully rejuvenating interest in the team, however, requires more than just a change in name and location. The Marlins cannot and need not remain a small-market franchise; Loria has claimed that he wants to be the next George Steinbrenner, but to do so he must spend effectively every year. At first in the offseason, no one took the previously spendthrift Marlins seriously when their front office remarked that it had serious interest in this free-agent class. Now that Bell and Reyes have become the two of the highest paid players on the Marlins in a matter of days, the Marlins must be taken seriously. With the Philadelphia Phillies aging and the New York Mets having unprecedented money troubles, combined with the extra wild card spot added in both leagues, the Marlins have a real chance to build around a talented nucleus of Reyes, Mike Stanton, Hanley Ramirez and Josh Johnson. The Miami Heat dominated the NBA's free agency last year, and now it appears time for the newest Miami franchise to make its big splash.