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Shutdown Corner

Thu Oct 29, 2009 11:48 am EDT

UPDATE: Joel Glazer responds to Bucs sale rumors

By Doug Farrar

Here's ownership's response to the original story, per the team's official website:

Statement by Joel Glazer, Co-Chairman, Tampa Bay Buccaneers:

"The report today by WDAE's Dan Sileo about our family and the Tampa Bay Buccaneers is 100 percent false.

"The Tampa Bay Buccaneers are not, nor have they ever been for sale. In addition, our family or any of our related companies have never invested one penny with Bernie Madoff.

"The report is baseless, irresponsible and slanderous. This type of behavior by Mr. Sileo and his company Clear Channel will be dealt with in the appropriate manner."

Original story below.

In 1995, Malcolm Glazer outbid George Steinbrenner (marking the last recorded instance of a Steinbrenner outbid) for the Tampa Bay Buccaneers. Glazer paid a then-record $192 million for the team, which sounds like relative chump change now. Forbes recently valued the Bucs at $1.085 billion, eighth-highest among NFL teams. But the Bucs entered the 2009 season with the most room available under the salary cap, and they remain approximately $23 million under at a time when other teams are using creative accounting to get their roster under the glass ceiling. The team is 0-7, rookie coach Raheem Morris looks to be in over his head, and the quarterback battle is between two inexperienced Joshes -- Johnson and Freeman. The formerly impenetrable defense looks incapable of stopping a good Valdosta State team, and fans are apoplectic. Not Washington Redskins apoplectic, but pretty fed up.

It's now coming out that the story of the Buccaneers may have more to do with what's happening off the field. The Glazer family (Bryan Glazer pictured above with NFL Commissioner Roger Goodell) also owns the Manchester United team, and according to a report from Business Insider, financial losses in the management of that team may affect the family's interest in further NFL ownership. Radio station WDAE recently reported that the Buccaneers either are, or soon will be, up for sale. Goodell has rebuffed any claims that the Bucs are operating on the cheap, or siphoning NFL profits to prop up an ailing soccer team.

"That charge has no merit,'' Goodell told the Tampa Tribune. "The Glazer family has consistently demonstrated a commitment to winning in the NFL and that has not changed. They've restructured their organization and patience will be a No. 1 imperative in Tampa.''

Well, either WDAE got it wrong, or Goodell's about to get a nasty shock from the Tampa area. It's worth noting that the Glazers aren't terribly popular in England, either -- when the Bucs traveled to England to get smacked around by the Patriots last week, British media was denied any access to the Bucs/Man United ownership group. Literally and figuratively, unanswered questions surround this team. Ticket sales are down, apathy is up, and if the Glazers are running out of the kind of capital they would need to operate both teams, it may be time to cut bait.

Related: Tampa Bay Buccaneers, Washington Redskins

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43 Comments

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  1. Zach
    1. Posted by Zach Thu Oct 29, 2009 12:17 pm EDT

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    yesssss pls we need an owner who will actually spend money on us. who cares about soccer ..... cheap ass glazers
  2. oo
    2. Posted by oo Thu Oct 29, 2009 12:22 pm EDT

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    Sell the Bucks back to the Culverhouse family...now THEY knew how to run a franchise.
  3. Robert K
    3. Posted by Robert K Thu Oct 29, 2009 12:40 pm EDT

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    I'm beginning to think that the glazers were the overbearing source of basically all of the bad moves we've made since 2003
  4. Mark
    4. Posted by Mark Thu Oct 29, 2009 12:40 pm EDT

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    Thank the lord!
  5. Permanent4
    5. Posted by Permanent4 Thu Oct 29, 2009 12:50 pm EDT

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    This has been coming to a head for quite a while. The Glazers' takeover of Manchester United was 70% leveraged -- that's 70% of £750 million, mind you -- and the debt load is taking its toll on that club. Despite winning three straight Premier League titles and a UEFA Champions League crown in 2008, Man United's debt has increased by almost £100. They had no choice but to sell Cristiano Ronaldo to Real Madrid in order to cover most of their operating losses.
    So I'm not surprised at all that the Buccaneers have suddenly cut costs. Man United has no choice but to maintain its Champions League status in order to stay afloat. The Bucs can operate on the cheap and not get relegated to the UFL.
    Incidentally, Liverpool FC are in the same boat as Man United, what with co-owners Tom Hicks (who also owns the Dallas Stars and Texas Rangers) and George Gillett (who also owns the Montreal Canadiens) having bought Liverpool on credit and struggling to maintain that club's status as a European powerhouse. Pretty much everyone in Liverpool hates those two and wants them gone.
    So there's worry that both Manchester United and Liverpool could both go bust because of the credit markets drying up. Do a search for "Leeds United" to find out what happens to an English soccer club that can't pay its bills.
  6. Hole-E-Cow
    6. Posted by Hole-E-Cow Thu Oct 29, 2009 12:51 pm EDT

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    Let's hope this happens soon!
  7. John H
    7. Posted by John H Thu Oct 29, 2009 1:03 pm EDT

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    sell them to Eddie DeBartolo and build something with someone who can win multiple lombardi trophies
  8. Rich H
    8. Posted by Rich H Thu Oct 29, 2009 1:15 pm EDT

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    Buy low sell high, basic economics. So please sell the team so we can get an ownership group that is dedicated to only one team and making them winners.
  9. roadkill27
    9. Posted by roadkill27 Thu Oct 29, 2009 1:20 pm EDT

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    the bucs are 0 and 7, but i think u people forget a blinding advantage, next years draft will be one of the biggest drafts in years, the first ten nfl teams to pick will get undoubtedly a franchise player, the bucs fired pretty much everybody and now they are tied with st louise for the worst record in the nfl, if this keeps up we could have tebow, or bradford, or maybe mcoy. keep losin bucs, it will pay off next season and for many seasons to come
  10. Brett P
    10. Posted by Brett P Thu Oct 29, 2009 1:22 pm EDT

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    as a Skins fan, i am JEALOUS!!!!! Just don't get a scum bag Douche like Snyder in there!!!!!
  11. Big Stick
    11. Posted by Big Stick Thu Oct 29, 2009 1:34 pm EDT

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    Wow from hero to zero in 15 years.....actually too bad cause I liked the original lucky little leprechan at first! Old man Glazer should have stayed involved, these next generation owners always seem to screw things up.....still have love for the Buc's hope to see them win soon!
  12. dudelabowski
    12. Posted by dudelabowski Thu Oct 29, 2009 1:38 pm EDT

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    #9. Do you really think the Bucs are one top draft pick from turning the corner?
  13. Jim
    13. Posted by Jim Thu Oct 29, 2009 1:47 pm EDT

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    Most of this isn't news. It has been in the Tampa papers for months now. The Bucs have been run on the cheap for years, with the Glazers living off of the fan goodwill from the Super Bowl. Allen and Gruden must have been pretty good to put together competitive teams.the past few years.
  14. cowboy
    14. Posted by cowboy Thu Oct 29, 2009 1:52 pm EDT

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    #12 I agree with you about #9's comment. And if anyone actually thinks that Tebow will translate into the next great QB, I've got two words for you. Jamarcus Russell.
  15. Stacy
    15. Posted by Stacy Thu Oct 29, 2009 2:05 pm EDT

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    Just on the bucs website:
    Statement Regarding False Report
    Oct 29, 2009 -
    Statement by Joel Glazer, Co-Chairman, Tampa Bay Buccaneers:
    “The report today by WDAE’s Dan Sileo about our family and the Tampa Bay Buccaneers is 100 percent false.
    "The Tampa Bay Buccaneers are not, nor have they ever been for sale. In addition, our family or any of our related companies have never invested one penny with Bernie Madoff.
    "The report is baseless, irresponsible and slanderous. This type of behavior by Mr. Sileo and his company Clear Channel will be dealt with in the appropriate manner.”
  16. S Florida Hurricane
    16. Posted by S Florida Hurricane Thu Oct 29, 2009 2:21 pm EDT

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    If I'm not mistaken.. a couple of years ago it was reported in the Tpa Bay Area that Edward De Bartolo was interested in buying the team.
    Now...who would want a better owner-investor than him ??
    Lets see if they step up to the plate again !!!
  17. Dave B
    17. Posted by Dave B Thu Oct 29, 2009 2:32 pm EDT

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    Too bad if Joel Glazer is telling the truth. The Glazer's have milked and bilked Hillsborough County and the tax payers for 15 years and the Tampa Sports Authority let them do it. Old man Glazer said he would pay for 50% of a new stadium; however, had a memory lapse when the bill came due. They will stay here as long as T.S.A. lets them bleed us dry.
  18. Hole-E-Cow
    18. Posted by Hole-E-Cow Thu Oct 29, 2009 2:47 pm EDT

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    Dammit!! I knew the report of a sale was too good to be true!
  19. Tripod
    19. Posted by Tripod Thu Oct 29, 2009 3:30 pm EDT

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    Hey #9 - i dont know if you knew this or not, but we picked up our "franchise" QB last year. We are not gonna spend another #1 draft pick on a QB. to #16, that offer is still on the table as far as i know. he has always wanted to purchase this team, and i agree that it would probably be a get move. This team has so many glaring holes in it starting at the very top. i see a long grim future in tampa bay until the current owners, or a new one decide that they need to spend the money to get a winner on the field. I think Mark Dominic is in way over his head and Raheem Morris was dealt a lousy poker hand with this team. you can only coach monday-saturday, sunday it is up to the players and they clearly are not. (carolina's last drive proves that to me)
  20. brian b
    20. Posted by brian b Thu Oct 29, 2009 3:37 pm EDT

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    Glazer got you a super bowl. Eddie De Bartolo is a moron. See SF 49ers.
  21. j.allan3@...
    21. Posted by j.allan3@... Thu Oct 29, 2009 4:51 pm EDT

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    I think it's bit unfair to class Man Utd as an 'ailing' soccer team. As a poster above pointed out, the buyout was leveraged, and the increase in debt at Utd, (and Liverpool), was based around the fact that the interest payments on the loans stretch to upwards of £70m per year, so whilst the club itself makes money, the holding company (and the debt) is what is incurring the losses. The fact that the debt was then leveraged against the club itself makes it appear that the club is the loss-maker here, but it isn't.
    Of course, that doesn't help either the Bucs or Man Utd, but that's the situation.
  22. steve
    22. Posted by steve Thu Oct 29, 2009 5:19 pm EDT

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    There needs to be a rule about all of this unspent cap money... If you don't use 95% of your salary cap space you are kept out of profit-sharing by the league.
    Why allow teams to field inferior rosters just to make a profit?
  23. Gene B
    23. Posted by Gene B Thu Oct 29, 2009 5:38 pm EDT

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    What are the chances that Ed Roski has $553m lined up? Looks like it might be time to start coming up with team names for the NFL franchise based the City Of Industry, CA. Maybe Jerry Buss wants in -- they could be the Los Angeles Football Lakers.
  24. Stephen
    24. Posted by Stephen Thu Oct 29, 2009 6:32 pm EDT

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    Most of you are fools, especially you Jim, to blame the Glazers for the Bucs decline. The players got old and retired. It's time to start over.
    And most of these guys posting their financial solutions to the Bucs problems should probably keep their solutions to themselves. Maybe go back to business school to learn about how the economy works.
  25. Stephen
    25. Posted by Stephen Thu Oct 29, 2009 6:35 pm EDT

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    steve, you don't know what you're even talking about.
    The Bucs were willing to give the most money to Haynsworth. He chose to go elsewhere. They're also paying Gruden and Allen $10 million for the next two years. That's not being cheap. They care about the team, they want the team to go in a new direction. Not much of a Bucs fan are you?

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Shutdown Corner is an NFL blog edited by Matthew J. Darnell. Email him, and follow him on Twitter.

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