Buccaneers owners dispute financial woes

Football Betting Lines

06/07/2010 - Tampa, FL (Sportsbook Betting Lines) - The Tampa Bay Buccaneers released a statement Monday saying that the Glazer family, which owns the team, is "well positioned" financially, refuting a British report that claims otherwise.

The statement comes on the same day a BBC report said the family, which also owns Manchester United of the English Premier League, has a debt of about $1.6 billion -- more than $570 million than previously known. The report said the debt levels may threaten the family's ownership of Manchester United, but added that the Glazers said they hold nearly $3 billion in assets.

The BBC reported that mortgage documents show the Glazers have borrowed $570 million against their shopping centers (First Allied Corporation) and $95 million against the Buccaneers. That's in addition to their $1 billion Manchester United debt, part of which the BBC reported will be charged at an interest rate of 16.25 percent.

In light of the report, the Buccaneers released a statement Monday saying that their fans "should know that the Glazer family is as financially well- positioned as ever before." The statement said companies the Glazers own generate more than $800 million in revenue each year.

"Sophisticated real estate experts know that the family's refinancing of their commercial real estate before the global meltdown has proven to be the wise move," the statement said.

"While First Allied represents only a small portion of their asset portfolio, it continues to generate significant profits, enjoys over 90 percent occupancy, and has long term non-recourse financing.

"This franchise remains committed to bringing the resources to build its next championship team."

The BBC reported, however, that most of the shopping centers do not generate enough income to draw even with interest payments, adding that four have already gone bankrupt. The report said banks have put a number of the centers on a watch list, and said First Allied properties are worth about $550 million -- less than what the family borrowed against the company.

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MySportsbook.com week 1 NFL lines


Now that the 2008 NFL schedule is finally out, it is only matter-of-course for lines on “Week 1” to follow.  Of course MySportsbook.com is the first to churn out odds for the NFL’s inaugural week for the upcoming season.   Expect a lot of fireworks the first Thursday night of the season as the defending champion Indianapolis Colts face off against the surprise of the 2008 season, the New Orleans Saints.  These teams were ranked #1 and #3 in the NFL respectively a season ago so a high scoring affair could be in order.  As of now, the Colts will be giving 6 points to the Saints; keep in mind the Saints were one of the better road teams last season going 6-3 SU and 7-2 ATS.  The first Monday night of the season will again provide a “double feature”. Coming off a disappointing season, the Cincinnati Bengals will look to get back to playoffs and improve their public image as they take on the AFC North favorite Baltimore Ravens.  The second game features a couple of teams that haven’t had too much success recently but each could make some noise if the NFC is as weak as it was last year as the San Francisco 49ers host the Arizona Cardinals. The most interesting game of the opening week will feature the NFC champion Bears as they hit the road to take on the NFL’s top team during last year’s regular season, the San Diego Chargers.

MySportsbook.com Week 1 odds:

Saints +6 @ Colts -6

Falcons @ Vikings (pick ‘em)

Panthers @ Rams (pick ‘em)

Broncos -3.5 @ Bills +3.5

Chiefs -1 @ Texans +1

Dolphins +3 @ Redskins -3

Patriots -5 @ Jets +5

Eagles -3.5 @ Packers +3.5

Steelers -4 @ Browns +4

Titans +6 @ Jaguars -6

Bears +6 @ Chargers -6

Lions +3 @ Raiders -3

Bucs +6.5 @ Seahawks -6.5

Giants +4 @ Cowboys -4

Ravens +3 @ Bengals -3

Cardinals +3 @ 49ers -3

 Super Bowl line (2008)

NFC +6.5 vs. AFC -6.5

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