A lot ha s been happening within the NFL over the last few weeks as we’ve seen a slew of coaches bite the dust. We all as one observes the debris of this all. You cannot help but wonder what really is behind this all ? In the case of the Tampa Bay Buccaneers there’s now a great deal of speculation coming into being that the Glazer family will be on the verge of selling the franchise.
GM Mark Dominik ,Exective VP Edward Glazer, VP Bryan Glazer, new coach Raheem Morris and Chief Executive and Chairman Joel Glazer of the Tampa Bay Buccaneers. picture appears courtesy of getty images/…………………
If you are aware of the situation the family are also the owners of the prestigious English Premiership soccer club Manchester United. They paid in excess of $1.5bn for the team much of it through leveraged sources within the financial community. Well now the club itself is laden with debt said to be to the tune of $850m. It begs the question what are the family to do next ? Much of this debt is subordinated and will have to be paid off to the financiers. That being said it may well be the maneuvers set forth by the Glazers in the firing of Jon Gruden and the team’s GM Bruce Allen is setting about a chain of actions that was their original intention.
With a new coach in place in the guise of Raheem Morris and a general manger in Mark Dominik. Both are inexperienced in terms of the positions that they now assume. It has to be said that on appearance alone , in particular Joel Glazer may well be laying the groundwork for the selling of the franchise. Albeit that at this time it’s merely speculative. Manchester United if anything is the more prized asset within their sport’s franchise kingdom. And of the two it’s the more recognizable . It has a worldwide branding recognition. And to most the name is synonymous with all that is prestigious about the game itself.
Eddie DeBartolo the former owner of the San Francisco Forty Niners. picture appears courtesy of ap/photo/Mark Freuerstein …………………
As for the suitors it has been rumored that former San Francisco Forty Niners’ owner Eddie DeBartolo may have an interest in the pursuance and purchase of the franchise. The billionaire commercial real estate tycoon and entrepreneur who has a home in the Tampa Bay are and who does a great deal of philanthropic work within the community. For him it would be a return to a position where he oversaw a lot of success as an owner. And though we know that DeBartolo had to relinquish control of the Forty Niners due to some undue business dealings. Were the transaction to take place it may well be welcomed by those within the community. But that’d be also predicated upon the views of NFL Commissioner Roger Goodell and the rest of the owners within the NFL. It’s been often felt that the Glazers are much more concerned as to the success of Manchester United . Rather than that of the Tampa Bay Buccaneers. But those views of late have been dispelled by Malcom Glazer’s son Joel Glazer. Whether one can take him at his word remains to be seen. But in this day and age when the economy is in such dire straits one has to ask whether or not the family can be believed ?
Whilst this has been going on another transaction took place concerning the Miami Dolphins. Owner H D Wayne Huizenga has relinquished control of the franchise by selling a majority stake in the franchise to New York real estate developer and multi-billionaire Stephen Ross. Huizenga now only retains a 5% stake in the franchise having sold Ross the majority stake for an undisclosed sum. Though it has been rumored the figure may well be in excess of $1bn for that majority stake. The deal itself was finalized yesterday. Why all of the interest you may ask ? Well in light of this it has left Bill Parcells the man behind the renaissance of the franchise in a very enviable position. Parcells has thirty days in which to make a decision as to whether or not he’ll remain with the franchise or walk away. And in walking away he’ll take with him the sum of $12m free and clear. Now that’s a service contract worth having now isn’t it ?
Newly minted principal owner of the Miami Dolphins billionaire real estate developer and tycoon Stephen Ross seated alongside H D Wayne Huizenga the former owner of the franchise. picture appears courtesy of ap/photo/ Gustavo Matos ……………………
Parcells is in an enviable position as he knows that there are several franchises around the league in need of a good architect who can resurrect their fortunes. No longer it’d appear interested in coaching we know that Parcells is capable of rebuilding a franchise using his astute knowledge and the building blocks that may well be already be in place.. He’s done it wherever he’s been and if anything the most impressive piece of work on his resume’ may well be the resurrection of the Miami Dolphins. He turned this team around by shrewdly putting in place a good coach in Tony Sparano. And then bringing in former New York Jets’ quarterback Chad Pennington. Jettisoned by his former team in favor of Brett Favre. Pennington had an exemplary year as the Dolphins won the AFC East division and making the playoffs after their disastrous 1-15 record from the previous year. If ever there was an indication as to Parcells’ genius then this may well have been it. If anything one may well feel that Parcells’ former employer Jerry Jones of the Dallas Cowboys must be ruin the day he decided that it was OK for him to let Parcells leave the franchise. But then again Jones has always been his own man marching to the beat of his very own drum.
These moves may not seem significant on the surface of things but should they materialize. It’s only a mere indication as to what’s now happening within sports as a number of franchises look to tighten their belts. Be it for the short term or long term. It won’t be often that we’ll see this happen but when it does , it does carry some serious ramifications for sports in general.