Bucs Owner Faces Monster Debt with Man U Franchise

Tampa Bay Buccaneers Owner Malcolm Glazer also owns one of England's most well known and successful soccer franchises Manchester United. The ownership of the two clubs may be wearing him a little too thin.

Manchester United's parent company posted a pretax loss of $65.9 million last season despite an improved operating profit by the club after winning both the Premier and Champions League.

Figures released on Thursday by Companies House showed that United's operating profit went up by $7.35 million to $118.3 million in the fiscal year ending June 2008. The results revealed increased TV revenues and bonuses from title successes, confirming that the club maintains a strong marketing brand around the world.

But the continued debt repayments by Buccaneers owner Malcolm Glazer, who took out a loan to buy the club in 2005, meant the balance sheet showed another loss.

Many have speculated that the Man U debt was the reason the Buccaneers have been so frugal the last few seasons, the Bucs entered free agency a reported $62 Million under the salary cap and may be at risk of not meeting the salary floor, which is 70% of the salary cap. Despite constant denial of this, the debt figures appear to confirm the speculation.