Report: Glazer family $1.6 billion in debt

QBREES9 · 06-07-2010, 09:03 PM

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.

06-07-2010, 09:03 PM	#1
QBREES9 Moderator Join Date: Sep 2007 Location: New Haven Ct Posts: 23,989	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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