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(St. Petersburg Times) Florida Since Tampa Bay Bucs' owner bought Man U., his American football team is cheapest in the NFL. Only so much loot to plunder   (tampabay.com) divider line 11
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603 clicks; posted to Sports » on 01 Jul 2009 at 4:32 PM   |  Make this a Fark FavoriteFavorite    |   share: Share on OMGTWITTER WEB2.0share on StumbleUponshare on Facebook  more»   |    Get this fabulous T-Shirt and impress the methane out of your friends! shirt it!

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xnewnoisex 2009-07-01 04:34:35 PM  
I think this would because Man U actually makes a slight bit more money thank the Tampa Bay Bucs

 
DamionAG [TotalFark] 2009-07-01 04:40:23 PM  
xnewnoisex: I think this would because Man U actually makes a slight bit more money thank the Tampa Bay Bucs


Yes that's it.....Man Utd is only like a billion dollars in debt.

 
mynameismark 2009-07-01 04:42:53 PM  
DamionAG: xnewnoisex: I think this would because Man U actually makes a slight bit more money thank the Tampa Bay Bucs


Yes that's it.....Man Utd is only like a billion dollars in debt.



Yup, and that bills coming due. Hope the mancs had fun while it lasted.

 
xnewnoisex 2009-07-01 04:48:06 PM  
DamionAG: xnewnoisex: I think this would because Man U actually makes a slight bit more money thank the Tampa Bay Bucs


Yes that's it.....Man Utd is only like a billion dollars in debt.


And that debt is because he spent 1.8 bil to get the team.

 
Super Chronic 2009-07-01 07:10:24 PM  
The underlying report (linked in TFA) refers to raw dollar figures spent over a 5-year period -- or, in its own words:

...some NFL Management Council figures on "committed cash," which is a fancy way of saying how much each team spent in actual dollars (not salary cap funny money) on player costs...

Unfortunately, "salary cap funny money" is relevant. And if you go back to TFA, discussing the history from shortly before this 5-year period, it says this:

All of that spending led to a Lombardi Trophy in the 2002 season, but it also put the team in salary cap trouble.

There's the problem. The key to salary cap gimmickry is deferring the hit from one year to the next. The Bucs deferred as much as they possibly could, but the accounting hit finally caught up with them. That limited the amount they were able to spend, in actual dollars. Was it worth it? Sure. Think of it as the hangover after the party of a lifetime. And considering that the team hasn't done too badly the last couple of years, it sounds to me like they've managed it well with some pretty shrewd moves.

(Mind you, lest I pat the FO on the back too extensively, I do scratch my head over tagging Antonio Freaking Bryant... especially when the team is otherwise dismantling and not moving closer to a Super Bowl in the near term.)

 
DamionAG [TotalFark] 2009-07-01 07:31:40 PM  
xnewnoisex: DamionAG: xnewnoisex: I think this would because Man U actually makes a slight bit more money thank the Tampa Bay Bucs


Yes that's it.....Man Utd is only like a billion dollars in debt.

And that debt is because he spent 1.8 bil to get the team.



The team posted a $66 million pretax loss last year. Doesn't matter where the debt is coming from it is still there and building. He paid $1.35 billion for the team. He borrowed $916 million of that. As of last year Man Utd is $1.15 billion in debt.

While I would be willing to bet my life that the Bucs were operating in the black last year.

Seems like the smart thing to do would be to put money into his cash cow(the Bucs) to try to increase his profits even more and use that to pay down his debts on Man Utd. Either that or sell the Bucs, who were valued at 1.1 billion by Forbes, to pay off the debt.

 
UNC_Samurai [TotalFark] 2009-07-01 09:23:02 PM  
So they talk about the business of spending on a franchise and just talk about player salaries? That's only part of the picture. A franchise's ability to do well over long periods of time also involves spending on scouting, facilities, and the medical staff (hear that, Randy Lerner?!?).

Take Bill Bidwell, for example. While he was cheap in hiring players for years, he was even more notorious for refusing to spend money on facilities. Sun Devil Stadium was grossly unfit to be an NFL stadium for years. The payroll was skimpy from middle linebacker to marketing director.

 
steamingpile 2009-07-01 09:49:13 PM  
F*ck the suckaneers, biggest group of bandwagon fans in the world.

 
sharkeyca 2009-07-01 09:56:05 PM  
DamionAG: xnewnoisex: DamionAG: xnewnoisex: I think this would because Man U actually makes a slight bit more money thank the Tampa Bay Bucs


Yes that's it.....Man Utd is only like a billion dollars in debt.

And that debt is because he spent 1.8 bil to get the team.


The team posted a $66 million pretax loss last year. Doesn't matter where the debt is coming from it is still there and building. He paid $1.35 billion for the team. He borrowed $916 million of that. As of last year Man Utd is $1.15 billion in debt.

While I would be willing to bet my life that the Bucs were operating in the black last year.

Seems like the smart thing to do would be to put money into his cash cow(the Bucs) to try to increase his profits even more and use that to pay down his debts on Man Utd. Either that or sell the Bucs, who were valued at 1.1 billion by Forbes, to pay off the debt.


He doesn't really have to. I think if I remember correctly all of the debt is owned by Man U, not the Glazers. When the bills come due, he can sell it back to "the die hard supporters" who will buy up the shares regardless of how much debt the team is in.

 
bubbaprog [recently expired TotalFark] 2009-07-02 12:30:21 AM  
There is still a several year backlog in season ticket applications for the Bucs. They sell out every game, and obviously reap the rewards of the NFL TV contract. They are in fantastic financial shape, and it is easy to conclude that their financial successes are going overseas like a flood.

 
TonnageVT [TotalFark] 2009-07-02 02:59:32 PM  
mynameismark: Yup, and that bills coming due. Hope the mancs had fun while it lasted.

What do you think is going to happen? The team's going to move?? They've only been around for over 100 years.fark the Glazers!

LUHG!!

 
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