Via an article published by the BBC, ProFootballTalk.com is reporting that the Tampa Bay Buccaneers owners, the Glazer family, is facing a potential hostile takeover of their British soccer club Manchester United. The Glazers went deeply in debt in order to acquire Manchester United, and many fans of the team feel that the Glazer's debt is holding the club back from being more active in player acquisition.
While the Glazer family insists that Manchester United isn't for sale, multiple outlets (including the BBC) report that a group of financiers have met to discuss a possible hostile takeover of the team.
The group calls itself the "Red Knights," and they met on Monday.
The existence of more than $1.1 billion in debt has prompted increasing concerns regarding the Glazers' ability to properly run the franchise.
Source: ProFootballTalk.com - BBC
PewterReport.com's Take: The Glazers have been facing mounting fan anger from both the Manchester United fans and Buccaneer fans over the same issue- the lack of spending money on the team. Fans from both teams feel the debt from the purchase of Manchester United is preventing ownership from spending more on player talent. The Glazers insist in public and private that this is not the case. It is not surprising that there is a group that wants to wrestle Manchester United away from the Glazers. Some of the owners that held shares in the soccer club were irrate when the Glazers took it over. Since they bought the club the economy has declined and both of the Glazer's teams have lost a lot of corporate sponsers. Manchester United is one of the most popular and successful professional sports teams in the world. The Glazers will do everything possible to hold onto it.