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Discussion in 'PatsFans.com - Patriots Fan Forum' started by Christopher_Price, Mar 5, 2008.

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  1. Christopher_Price

    Christopher_Price Rookie

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    A few quick Patriots-related links for everyone to enjoy this afternoon:•There’s a restaurant in New York that may have video of Tom Brady and Gisele “hooking up.”•New Bills linebacker Kawika Mitchell tells a Buffalo radio station the secret to beating Brady and the Patriots. (Oh no! Whatever will the Patriots do? Their secret is out!) [...]

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  2. upstater1

    upstater1 Rookie

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    If I'm reading that last story right, the Patriots only owe $71 million in debt. That means Kraft has paid most of it down.

    That's big news.
  3. BPF

    BPF Rookie

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    Last edited: Mar 5, 2008
  4. MNF

    MNF Rookie

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    This is long-term debt which he probably does not have to paydown anytime soon. The $71m of debt is not really the problem. They big news in the article is the super-high interest rate he has to pay (which was sparked by the subprime mortgage crisis last August). The good part is that a new rate is determined every 7-days. They bad news is that the rate may get worse given the current condition of the short-term lending market. Kraft can probably switch to a fixed rate issue which will make things more stable for him in the short term. Given the unknown write-downs banks have coming in the next few months (putting further scare in the debt markets) it might be a good idea to get out the auction security market.
  5. Christopher_Price

    Christopher_Price Rookie

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    Thank you for clarifying that. I thought that might be the case--just not sure....
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