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Report: Debt could force Glazers to sell soccer club

[Editor’s note:  Due to the fact that the folks in England denote the date with the day before the month, we didn’t immediately realize that the “11/4/09″ designation was actually April 11, not November 4.  And while we realized that it’s not November 4 just yet, newspaper web sites have at times applied the date on which a story will appear in print to the online version of if.  So, basically, this is news is several months old.  We apologize for not realizing this at the time.  The substance of the story is accurate.]

Last week, the Glazers were forced to deal with rumors of financial problems that could force a sale of the NFL team they own.

The Glazers strongly denied the rumors, and WDAE radio in Tampa retracted the report that mentioned them — and suspended host Dan Sileo for uttering them on the air.

This week, the Glazers are faced with a report from a British tabloid regarding financial problems that could force a sale of the soccer club they own.

Per the report, Manchester United faces a debt of roughly $1.79 billion, based on current pounds-to-dollars conversion rates.  The report suggests that the Glazers might ultimately be forced to sell controlling interest in the team.

But the report buries the fact that the first chunk — roughly $122 million — isn’t due until 2013.  The biggest obligation, approximately $978 million, arises in 2017. 

So the situation is hardly dire for the Glazers.  (Especially if the Mayans were right.)

The Glazers have not yet commented on the report.

Many league observers have speculated that the Glazers have been spending less money on the Buccaneers due to the financial obligations resulting from ownership of the Manchester United club.  The Glazers have consistently denied that they are cutting costs relating to their NFL franchise.

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18 Responses to “Report: Debt could force Glazers to sell soccer club”
  1. PFTiswhatitis says: Nov 3, 2009 9:58 AM

    “But the report buries the fact that the first chunk — roughly $122 million — isn’t due until 2013. The biggest obligation, approximately $978 million, arises in 2017.
    So the situation is hardly dire for the Glazers. ”
    Which means that YOUR headline is misleading and you are no better than the other media outlets you refer to in this post. C’mon Florio DO BETTER.

  2. iambruce says: Nov 3, 2009 10:02 AM

    “So the situation is hardly dire for the Glazers. (Especially if the Mayans were right.)”
    lol!! This might be the funniest thing I’ve read in awhile!!!

  3. ShruggingGalt says: Nov 3, 2009 10:04 AM

    Slander laws are more plaintiff friendly in the U.K. Let’s make some popcorn and see if the Glazers’ attorney mentions this “slanderous” report as well.
    And files suit.

  4. 1_Buc_Nation says: Nov 3, 2009 10:05 AM

    I wonder if the British tabloid will be suspended and forced to retract the report. These sensitive Glazer boys get their feelings hurt easily when it comes to speaking of their debt.
    And, we all know these boys would never lie about their finances. They are cutting the costs related to their NFL franchise for sh!ts and giggles.
    Hugh Culverhouse called. He wants his blueprint on running a NFL franchise back.

  5. SmackMyVickUp says: Nov 3, 2009 10:12 AM

    Perfect time for a link to the movie 2012, need to start utilizing all of your product placement opportunities a little better.
    When the CBA expires and teams have no salary cap floor or cap then it will be clear who is cutting costs and who isn’t.
    Bucs really haven’t had many superstars to sign to big salaries lately. They did drop a few veterans in the off season but most of them are still out of the NFL.
    They will have the #1 pick in next years draft and the large salary expectation that comes with it. How they handle that will show what their true intentions might be. Up to this point they just have a lot of mediocre players and are in another rebuilding year. No reason to pay mediocre players a lot when they don’t deserve large salaries.

  6. SaintsBucsPanthersSUKK says: Nov 3, 2009 10:13 AM

    The Mayans are right. Those primitive Mexicans from days of yore know of the cataclysms facing planet Earth in 2012 and the subsequent wiping out of much of the human race. Time to run up the credit cards.

  7. Matti Mahacnarblar says: Nov 3, 2009 10:19 AM

    Manchester United did just sell one player for $131 million and are one of the most profitable soccer clubs in the world.

  8. Pantherfan10 says: Nov 3, 2009 10:22 AM

    I don’t think the Man U fans will care if Glazer sells the team…
    http://www.youtube.com/watch?v=epqG_OWS-28
    Yes its the same Glazer that owns Man U they are talking about..

  9. deymond says: Nov 3, 2009 10:33 AM

    OMG, that is hilarious (that you don’t understand the date formatting, or have any clue as to the time difference from here to the UK). I guess this means you are so poorly read you also wouldn’t know that News of the World is about as reliable as well…you.

  10. Bob S. says: Nov 3, 2009 11:24 AM

    same happened to george gillett who had to sell the montreal canadiens hockey team albeit at a huge profit because of the money he lost on his soccer in england partnership with tom hicks owner of the texas rangers baseball team, AND other investments worldwide in last winters financial crisis. i believe texas rangers are for sale right now too?

  11. Not Mike says: Nov 3, 2009 11:27 AM

    What’s hilarious is Mike’s acknowledged complete mess up of the date on a story that’s from April.
    I realize the Glazer’s might be in some financial trouble but trying to compare what’s outlined in that article to what Sileo was suspended for is simply stupid.
    Mike…you’re better than this and should have just acknowledged the issue and passed on the article.

  12. Dirk says: Nov 3, 2009 11:39 AM

    “But the report buries the fact that the first chunk — roughly $122 million — isn’t due until 2013. The biggest obligation, approximately $978 million, arises in 2017.”
    Both USD and GBP will default well before 2013. So that dept is probably a non-issue anyway.

  13. eaglealan64 says: Nov 3, 2009 11:49 AM

    >>>Due to the fact that the folks in England denote the date with the day before the month

  14. HarrisonHits says: Nov 3, 2009 11:52 AM

    Ah that’s right, the bought the team before the dollar tanked so now they’re screwed.
    The Man U fans will be glad to hear this, they despise the Glazers.

  15. bustabloodvessel says: Nov 3, 2009 1:45 PM

    The Mayans never predicted the end of the world. That was something that some douchebag thought up. The universe travels in a circle, so obviously everything is cyclical. That’s just the point where things would start over. Our calender starts over every January 1st, but that doesn’t mean the world ends once a year. Sorry, I know it’s off topic, but I am just sick of hearing all this crap about 2012.

  16. Pier588 says: Nov 3, 2009 1:55 PM

    What ever happens regarding the Glazers, one good thing to come of it is taking the former Miami Sugarcane and “Silly IDIOT” at WDAE off the air waves. Derrick “Sharpe Stick in the Eye” Sharp has done a great job and I’ve actually put WDAE on in the car during that time frame instead of the NFL Network.
    I hope the Glazers sell the Bucs to Eddie D (not Man U) and pirate ship starts sailing in productive waters again.

  17. kappa08 says: Nov 3, 2009 3:44 PM

    Pier588…couldn’t have put it any better. Silieo is beyond an idiot. he repeats his self constantly and always takes the a hole side of the argument.

  18. MasterShake says: Nov 3, 2009 10:28 PM

    So does Sileo get an out? Futbol, football…………

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