Tampa Bay Buccaneers' Owners Rolling in Equity

Contrary to what you might think, the owners of the Tampa Bay Buccaneers, those goodly Glazers, have not formed a new LLC entitled "Dewey, Cheatum, and How."

The tight-lipped lads who threaten their faithful fans with television blackouts for the approaching 2010 NFL season absolutely, positively cannot cry that they are destitute.

These guys need to sell nothing and the latest survey from Forbes.com documenting the most valuable sports franchises in the world tells us why.

Everyone out there wearing the Pewter and Red is painfully aware of that group of ball-kicking Brits called Manchester United. Latest estimate by Forbes has the kickball team worth a whopping $1.83 billion, that's billion with a "B" and hefty revenues of $450 million-plus. All of which is created by a core base of $139 million, with an "M" drooling fans.

So who cares if the lads are in hoc to the tune of $1.4 billion, with a "B," they still have equity to the tune of $430 million, with an "M."

Now that pales in comparison to your Buccaneers.

The lads are fortunate young fellas due to the fact that daddy Malcolm grabbed the Buccaneers for a bargain-basement price of $200 to $205 million, or something in that discount ballpark.

The new Forbes.com survey has those same Buccaneers now worth a tad over $1 BILLION, make it $1.09 billion per Forbes. Now let's say the team is encumbered to the tune of oh, $400 million in debt. That means they'd still have more than $500 million, with an "M," in equity there. That number could and should be a lot higher. Only their bankers and accountants and the NFL know for sure how much debt there is on the Bucs.

Forbes also estimates that your non-winning Buccaneers generate revenues to the tune of $241 million. We know player payroll is only a tad north of $40-some million for those guys, save the new kid, Gerald McCoy, who will put a dent in the bank.

Let's just estimate that the lads are clearing after all is said, done, and accounted for, something north of $10 million in net income from their low-paying NFL venture.

Life is good for winkin, blinkin, and nod.

So don't let those guys cry poverty.

That new PR guy from Washington was right; these guys are in good shape regardless of that billion-plus debt on the Man-Uers.

So when the Glazers threaten you all out there with those dreaded television "blackouts," well, just consider the line from the movie Wall Street when Martin Sheen as Bud Fox's father simply said something to the tune of:

"The rich have been sticking it to the poor since the time of the pharaohs."