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June 7, 2010 @ 4:30 am
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BBC Report: Glazers Debt Over $1.5 billion

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Via a report on the BBC, ProFootballTalk.com is reporting that the Bucs owners, the Glazer family, have a total debt of $1.5 billion. The debt is believed to be linked to the purchase of the English soccer club Manchester United.

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.

Source: ProFootballTalk.com - Mike Florio

PewterReport.com's Take:
The Bucs owners insist that the neither the Bucs or Manchester United are for sale. Many Bucs fans believe that ownership's debt has caused the Glazers to spend less money on player salaries for Tampa Bay. Since 2004 the Buccaneers have spent the least amount of money on player salaries of any team in the NFL. The team says that money is not an issue and they have resources to sign players to major contracts. Right now they are taking a frugal approach due to the uncertain labor situation in the NFL. Once that comes to a resolution Pewter Report has been told that the Glazers will sign some players to major contracts. The candidates for those deals include left tackle Donald Penn, linebacker Barrett Ruud, and guard Davin Joseph.

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