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Zygi Wilf refinances his debt

The Vikings have closed a loan that finances the debt incurred by Zygi Wilf when he bought the team five years ago, according to Daniel Kaplan of SportsBusiness Journal.

Per the report, the acquisition debt now stands at $135 million.  When Wilf bought the team, he borrowed $175 million.  So his debt has been reduced by . . . engaging abacus . . . $40 million.

As Kaplan points out, the NFLPA has bristled at a recent attempt by teams to pay down debt in large chunks, since that money could instead go to the players.

Speaking of the players, the fact that Wilf’s payments will surely continue to be due on the debt even if there’s a work stoppage represents the primary reason why the union would love to block the league’s ability to continue to receive television money during a lockout or a strike.  With those payments, the owners have a lot of leverage; without them, the pendulum swings decidedly toward the players.

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6 Responses to “Zygi Wilf refinances his debt”
  1. EverybodyGotAIDS says: Jun 21, 2010 12:37 PM

    With those payments, the owners have a lot of leverage; without them, the pendulum swings decidedly toward the players.
    ______________
    Nah, because even in a lockout, the franchises still hold a good chunk of value. You’ll be able to find somebody who can float you the cash until the NFL gets going again. Everyone knows it’s just a matter of time.
    The players, on the other hand, spend their money on child support to their myriad of baby mommas and, of course, bling, so good luck to them if they have to make it without a paycheck for a year.

  2. GBfanForever says: Jun 21, 2010 12:37 PM

    bad investment zigi

  3. Bun McSticky says: Jun 21, 2010 12:39 PM

    God forbid Wilf doesn’t get to pay off his loan debt. WTF? The NFLPA should keep their yappers shut about what the owners do to reduce debt for the team.

  4. hrmlss says: Jun 21, 2010 12:41 PM

    Was it a Los Angeles bank by chance?

  5. redrum87 says: Jun 21, 2010 12:43 PM

    Does anyone who works for you write Vikings stories as well? Or do you reserve your pride and joy for youself alone?

  6. robert ethen says: Jun 21, 2010 12:57 PM

    Favre will lend him the money. He likes Zig.

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