Tampa Bay Buccaneers Owners Owe a Lot— So What?

So those Sherlock Holmes wannabes over at the BBC have unearthed the shocking news that our very own Boss Hogs in residence, the Glazers, have more than $1.5 billion in debt—so what?

So what's new with that? What's so shocking about that?

This just in: Why spend money when you can get some sucker, er, misguided financial institution or hedge fund to finance something for you.

That's obviously been the credo of Tampa's very own set of high rollers extraordinaire, the goodly Glazer boys.

So why is it such a surprise that these guys owe a BUNCH of money?

First, they have that gang of high-sock wearing, round-ball kicking ninnies better known as Manchester United. Okay, reports say some out-of-its-mind entity offered the G-men $2.2 billion for good ole Man U. Well, if you check out the cheat sheet in Joel Glazer's back pocket, it says:

"Why sell for $2.2 billion if there's some fool out there who might offer $2.8 billion?"

The official voice-piece for the Glazers reminds us all that the lads have companies that generate "$800m in revenues."

That's revenues, not the same as profits.

These Lads of Leverage love to borrow.  They owe about $1.1 billion secured by the round-ball kickers.  They owe about $570 million that they have borrowed against assorted malls they own. Pay those rents on time, you lousy tenants!

Then there is the mere pittance of $95 million borrowed against the Buccaneers. Chump change.

So what it all adds up to is big money as far as you and I are concerned, but a virtual drop in the bucket when you start talking about goings-on within the federal deficit.

The Glazers BORROW a lot of money because they HAVE a lot of money.

So what's all the huff about?

Here's a novel thought for all those Brits who want to throw our beloved Glazers from their position as owners of Man U:  Put some money together, buy the $1.1 billion note from those insane institutions, and become the entity that might one day foreclose on the boys and get Man U back in British hands.

As for the Buccaneers, we'll just have to move along and look forward to those six victories this season.