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Report: Glazer family $1.6 billion in debt

this is a discussion within the NFL Community Forum; http://sports.espn.go.com/nfl/news/story?id=5259694 All the extra debt comes after the Glazers borrowed extensively against their shopping mall business in the United States. The extent of the debt could fuel a further revolt by a group of United fans who oppose the Glazers' ...

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Old 06-07-2010, 09:03 PM   #1
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Report: Glazer family $1.6 billion in debt

http://sports.espn.go.com/nfl/news/story?id=5259694
All the extra debt comes after the Glazers borrowed extensively against their shopping mall business in the United States. The extent of the debt could fuel a further revolt by a group of United fans who oppose the Glazers' ownership.

The Glazers took over United in 2005 in a leveraged buyout worth $1.4 billion.

The BBC said it saw mortgage documents showing the Glazers have borrowed $570 million against shopping malls owned by their company First Allied Corporation. That's in addition to $1 billion in debts tied to Manchester United and $95 million to the Buccaneers.

The Buccaneers released a statement Monday trying to reassure their fans that the team is not in financial trouble.



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Old 06-08-2010, 01:41 AM   #2
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Re: Report: Glazer family $1.6 billion in debt

The Glazer family of sports tycoons bought United for about 790 million pounds in 2005 against a wave of opposition from fans. The club's debts have since swelled to about 716.5 million pounds.

Red Knights plan to buy Manchester United is on hold | Reuters
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Old 06-08-2010, 03:51 PM   #3
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Re: Report: Glazer family $1.6 billion in debt

This ain't going down well for the Man United football club supporters.
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