Where Has The Money Gone?
September 15th, 2009
Joe Henderson has an interesting rhetorical question in his column this morning about how, when the Bucs wear throwback uniforms against the Packers later this year, it may be a throw back in more ways than one.
In short, the always thought-provoking Tampa Tribune columnist asks, where has the cash gone despite the Bucs (still) having a long streak of sold out games?
A quick look at their Web site Monday showed good seats still available for the Giants game, priced from $79 to $115 (I think with the highest-priced tickets, you get to throw three long passes at Sabby Piscitelli). Parking is an absurd $25 on top of that.
We haven’t even mentioned that the Bucs are an estimated $30 million under the salary cap, so it begs the question of just where the money went. We can say for sure it wasn’t invested in safeties.
Joe (of JoeBucsFan.com) also seems to be under the belief the cash from TV contracts is a bit higher than when the CITS first opened. So the question Henderson raises is a good one.
If the Bucs are so far under the cap, games (for now) continue to sell out and TV income (among other revenue streams) are up, what has happened to all of that river of cash?
September 15th, 2009 at 9:06 am
Bucs fans are paying the price for Manchester United period!!!
September 15th, 2009 at 9:16 am
Joe:
James is correct, I wrote a piece that showed the incredibly high interest rates from the hedge funds on the Man U debt. That debt is in excess of ONE BILLION dollars, now that is chump change to the Obama administration but when it comes to servicing that debt, the Glazer boys, Moe, Larry, Curly and Schemp, well, it’s simple, you take the cash from Peter to pay Paul……
Of course that’s where it’s going….and it is very difficult now to sell these elephants as there is no financing available from banking institutions….you can still borrow from the Hedge Funds at 16, 17 and 18% rates but perhaps you could do just as well to borrow from the Sopranos.
The answer to that one is easy!
September 15th, 2009 at 9:34 am
Great, a high number of seats available. Now I have to hear “Lets go Giants” right after “Lets go Cowboys” in my own stadium. What a joke. Fans of Tampa Bay should be ashamed of themselves.
September 15th, 2009 at 10:47 am
Nick: You’re blaming the fans? SERIOUSLY?! Wow. Let’s put aside the fact that games are overvalued, or that a slow economy has hit just about everyone. How about at least staying on subject and asking why it is that the Bucs’ profits are going to Mann U instead of being reinvested with the team here, why it is that the money you paid for your seat is being sent off to England.
Maybe it’s just me, but I’m starting to get flashbacks to the Culverhouse era.
September 15th, 2009 at 11:38 am
do you guys seriously think the glazers are transfering their profits of the bucs to man-u? well if you have proof of the glazers dodging an audit and violating the nfl policy and commiting tax fraud i suggest you come forward with it. its one thing to say the glazers are in financial trouble and are cutting cost, but transfering their profit? puleaseeee.. warden goodell would shut that down in a heartbeat.
September 15th, 2009 at 12:15 pm
There is no relationship between spend all of the salary cap and having Super bowl win. Just ask Dallas and Washington. We need to draft better and be consistent with our system, mainly at QB. And as far as the fans not going to the games. Cleveland and San Fran have had a lot of loosing seasons over the years and the stadiums are always full. The Tampa Bay fan only believes in winning teams. As soon as a Tampa team starts to struggle every body jumps off the wagon. Just look at the Lighting and Rays. And when the Lighting start to win this year the fans will return proving my point. Oh and by the way Man U made over $100 million profit last year (3rd year in a row of record profits) and the interest payment is $55 million a year according to Forbes.
September 15th, 2009 at 3:40 pm
simple math joe: current cba gives players 60% of revenue if the bucs actually designate that percentage to their salary how can the bucs be making way less then every other team in the league becuase if it is thirty million less in salary then it means we make alot less money then everyother team in america. Also in florida if the bucs are subject to the taxes like the rest of us shouldnt they benefit from lower taxes and be able to spend more on talent I mean they shgould be getting taxed way less then other teams while they spend nothing. Bucs= cash cow to glaziers
September 15th, 2009 at 5:15 pm
I’ve always wondered if the Glazers,Jewish Palm Beach, had exposure to ,Bernie Madoff,Jewish Palm Beach
September 15th, 2009 at 7:41 pm
Hey Rasta, while your at it, can you check if there is a connection between Hitler and Obama?
September 15th, 2009 at 11:32 pm
Geez Rasta, everyone (except Nick–don’t blame the fans dude!) was sticking with blasting the Glazers for spending their money on ManU, then you have to go drop a race card??? What, are you like Kanye West–you don’t like white people??? See how stupid that sounds–knock the racist shit out!!!
September 16th, 2009 at 6:47 am
“then you have to go drop a race card??? ”
WTF race card ?
brainwashed knee jerk reactionary
Listen !….Both Glazers and Madoff,both white, were long time members of Palm Beach Jewish elite, Yes Grumpy wealthy Jews created their own PB social and business networking scene as the spent their winter in the balmy gulf stream kissed beaches as they were4 not privy to the same New England Blue Blood social circles Palm Beach is popularly know for.
So it is entirely plausible that the Glazers had some exposure to Bernie Madoff.
How you and Big Mac came to any other conclusion is in need of an explanation