Buccaneers owners dispute financial woes

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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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After all the trouble that’s ensued since Braylon Edwards allegedly punched one of LeBron James’ homeboys in the face at a club, the Cleveland Browns have sent away their last remaining player of worth to the New York Jets. This is a great move for Dirty Sanchez and all, but it’s even better for the Knicks. Now Donnie Walsh can say, “You get to haunt Braylon Edwards with your posse if you sign here!” next summer.

Putting that aside for a moment, the move is a clear indication that the new-look Jets are gunning for the Super Bowl this year. I don’t think that New York thought that Dirty Sanchez was going to be such a rock star. With a 75.2 passer rating that was killed against the Jets, Sanchez is doing an admirable job of managing games and putting the Jets in a position to win. The defense has been the major story in New York thus far, but the acquisition of Braylon Edwards makes this offense loaded with talent that can dent any defense…as long as Dirty Sanchez continues his meteoric rise.

Thus far, Edwards has been a non-factor in the NFL piling up just 139 receiving yards on 10 catches. He has yet to find the endzone, and with the Browns mired in the most unsexy quarterback controversy of all time (Anderson vs. Quinn...yawn), there going nowhere fast. Edwards is two seasons removed from a career year which saw him catch 80 passes for 1,289 yards and 16 touchdowns when the Browns were the spread killing monsters of 2007. In 2008, injuries slowed the receiver down to just 873 yards and three touchdowns though he played in all 16 games.

So that being said, we really don’t know if Braylon Edwards is just a flash in the pan, or a legit threat. At 6-foot-3 and 215 pounds, he is a prototypical receiver. But he’s also shown a strange, and unwarranted, talent for dropping passes. Lining up opposite Jericho Cotchery, a speed demon with 23 catches, 356 yards and a single touchdown, may give Braylon the open looks he needs. A change of scenery may also rejuvenate the star receiver.

In return, the Browns will receive Chansi Stuckey, online football betting a special teams player you’ve never heard of and a pair of draft picks. That’s a tall order for a guy whose only real value right now is in his name, and it shows no promise to the Browns that they can rebuild around those acquisitions. Braylon was the only reason to hope for the Browns to go 3-14 SU this year. Without him, they don’t have a single guy on offense that can scare any team.

For the Jets, it’s a response to the pounding that they took at the hand of the Saints. Thomas Jones and Leon Washington have averaged around 4.0 yards per carry each on the ground, but striking a fair balance between the passing and rushing attacks in New York has been a struggle. You have to believe that the trio of Dustin Keller, Jericho Cotchery and Braylon Edwards will give Sanchez the weapons he needs to unleash through the air. Theoretically, that would open up holes for the rushing game. But the proposed public option health care plan works in theory too. We need to see the proof in the pudding before we start loading up mega bucks on the New York Jets to take the AFC.

The one wrinkle in this whole thing is that Braylon could very well be suspended by the league for disciplinary action due to his “brawl” with LeBron’s friend. If that’s the case, the Jets may have to bench him for a few games leaving them with a somewhat depleted receiving corps for a few games. Also, this is a guy who gets in fights with people at clubs. New York may not be the best place for him. Just sayin’.

The Jets have a long week before they meet the Miami Dolphins on Monday Night Football Betting in a virtual pick ‘em game. Braylon’s excess baggage may be a distraction, and his curiously low production may be what we should be expecting of him overall, but for the Jets, taking a chance to strike gold is well worth it. At the end of the year, they can simply just blame it on their rookie quarterback.

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