In claiming he had no profits to share with taxpayers on his $1.2 billion sale of the Miami Marlins, Jeffrey Loria cited a hefty expense tied to the transaction: a $30 million payment to a financial advisory firm called Tallwood Associates. The team’s front office didn’t have to go far for that advice. Joel Mael, a top Loria deputy who served as Marlins vice chairman, founded the New York firm more than 20 years ago.
Loria’s longtime investment banker, Mael helped put together Loria’s purchase of the Montreal Expos in 1999, as well as Loria’s flip of the Canadian team to buy the Marlins in 2002 for $158 million.