01-20-2010, 10:23 PM
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#1
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Moderator
Join Date: Aug 2005
Posts: 11,198
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Tampa Bay owners in huge debt?
While most of the focus has been on Buffalo and Jacksonville, could Tampa Bay be in financial difficulty? If I'm not mistaken, they've spent barely above the salary floor the last few years.
http://www.nytimes.com/reuters/2010/...unts.html?_r=1
Quote:
Debts at Manchester United's parent company hit 716.5 million pounds in the year to June 2009 due in part to high interest payments, its accounts showed Wednesday.
Accounts for Manchester United's holding company Red Football Joint Ventures Limited showed the debt had risen by 17 million pounds in the year. Net interest for the period was 68.5 million pounds.
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Not surprisingly, Florio weighs in - with a slightly different spin:
Glazers' soccer debt exceeds $1.1 billion | ProFootballTalk.com
Quote:
Rumors continue to swirl that the family who owns the Tampa Bay Buccaneers is spread too thin, given the financial condition of its English soccer club, Manchester United.
The high debt comes in large part from the purchase of the club by the Glazers in 2005.
Many fans of the Bucs and followers of the NFL have suspected that the Glazers' failure to spend more money on their American football team is related directly to the Manchester United debt. The Glazers consistently have denied any connection, and Bucs front-office employees persistently have defended the franchise's spending habits.
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