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Report: Man United owners looking for loans
Tampa Bay Business Journal, FL - 16 hours ago
Manchester United, the renowned British soccer franchise acquired last year by Tampa Bay Buccaneers owner Malcolm Glazer, is negotiating with financial ...


Mon, 10 Jul 2006 18:20:00 GMT

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[Lefty Noob]

Could the Glazers, the owners of the Tampa Bay Buccaneers, be running into financial problems thanks to their stake in the Manchester United soccer club? It sure looks like it, according to this article, which claims "The Glazers owe at least $500 million in so-called payment-in-kind notes to U.S.-based hedge funds at interest rates of up to 20 percent" and that ":The hedge funds... have the right to seize the Glazers' stake should Man United fail to repay the debt in the next four years." There is also talk of a $490 million loan with JPMorgan that is secured against the team's assets. What's your reaction to this news?