Folks in England who hope to force the Glazer family out as owners of the Manchester United soccer club have more ammunition.
In addition to more than $1 billion in debt relating to the soccer club, the BBC reports that the Glazers have borrowed $570 million against their shopping malls and more than $95 million against their NFL team, the Tampa Bay Buccaneers.
The mere existence of the debt does nothing to compel the Glazers to sell any of their assets. But the news will do nothing to quiet those in England who want the Glazers to sell Manchester United.
The Glazers reportedly have turned down a $2.2 billion offer for the team, and they’ve declared that they do not intend to sell.
But things could get even more interesting when a portion of the soccer debt becomes subject to an annual interest rate of 16.25 percent.
In the U.S., the situation has prompted some to suspect that the Glazers are neglecting their pro football team by not spending enough money on players.