Following a free-spending 2012 season that has been a bust all the way around, the Miami Marlins have decided to cut payroll by up to $25 million next season, reports Clark Spencer of the Miami Herald:

Multiple sources said the team lost money this season due largely to a high payroll and lower-than-anticipated attendance at the new ballpark.

As a result, the Marlins will not be repeating last year’s buying binge, when they spent more than $190 million on free agents.

The Marlins spent a franchise-record $95 million in payroll this season but plan to cut it back to between $70-$80 million next year. With $65.5 million in salary already committed to eight players for 2013, the cutbacks mean the club will likely not have much money to work with this off-season. However, with the team losing just four players to free agency this off-season, the Marlins may not need much money to ready their roster for 2013.