EPL, Football, Joel Glazer, Manchester United, Mark Dominik, NFL, Raheem Morris, Sports, Tampa Bay Buccaneers

The Shortest Distance Between Two Points Is a Straight Line


The Shortest Distance Between Two Points Is a Straight Line

It appears that when one embarks upon a journey there are numbers of ways that one can go about planning it . You can take the path of least resistance knowing that if you’ve mapped out a plan then the journey and effort itself won’t be too laborious . Or one can go about this journey without a plan and essentially trying to overcome whatever obstacles are thrown your way and then seek to overcome each one at each moment it is in your pathway.

Plain but simple these are also the decisions that one also may well have to make in life as we proceed along its path. However we’re told that in life we have to be able to face adversity look it stare it straight in the eye and do our very best in order to deal with it and then overcome it. What if the obstacles at times that are thrown in front of us are ones of our own making ? How should one deal with them? Work to overcome them? Deny that they are and look elsewhere for assistance or perhaps simply just give up? Tests such as this are things show character if we choose to face them head on. However when we choose to deny them then along the way we’re liable to meet more of these very same obstacles in life.


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Slide show gallery for your perusal .

In article in the online forum of ESPN.com there’s a piece that deals with the burgeoning debt and finances of the Glazer family and the very fact that their most prized sporting assets are very much facing financial difficulties. As owners of the NFL’s __ Tampa Bay Buccaneers and the English Premiership soccer team Manchester United the Glazer family were thought to be the envy of the sport’s world. As the proud owners of Manchester United perhaps the most recognized sporting brand in the world , with its legions of fans the world over. This has given the semblance of respectability that the family may well have desired. But in their earnest rush to attain that respectability they have essentially “sold their souls to the Devil” and have little to in return to show for it all . Granted , United has won a Premier League title and have become a perennial contender on the European front. But in the midst of it all the sons of Malcolm Glazier have become financially irresponsible and have began to hide behind a whole line of false truths and misleading statements concerning their own financial stability and that of the two sporting franchises.

Courtesy of InsideWorldofFootball.com

Glazer family £1 billion plus debt threatens ownership of Manchester United

June 7 – The scale of debt held by the Glazer family, the owners of Manchester United, is even greater than first imagined after it emerged that their business empire owes £1.1 billion ($1.6 billion), which could threaten their ownership of the three-time European champions .

According to an investigation by BBC’s Panorama programme, to be broadcast tonight [Monday], the Americans are carrying £392 million ($568 million) of previously unknown debt relating to mortgages taken out on 63 of the 64 shopping malls owned by their company First Allied Corporation across the United States.

Four First Allied shopping centres have recently fallen insolvent due to low occupancy, while the report also suggests the malls do not make enough money to fund the mortgages.

They have also borrowed £66 milion ($96 million) against their American Football League team, the Tampa Bay Buccaneers.

The explosive findings suggest that the Glazers’ other business interests are unlikely to be able to pay off Manchester United’s £717 million ($1.03 billion) debts and cast further doubt on on whether the club will have funds to spend on transfers this summer.

United have always insisted Sir Alex Ferguson will be given cash in this transfer window but the Scot has suggested he will keep new arrivals to a minimum.

The research for the programme was carried out by Andy Green, a City analyst and United supporter who is a keen backer of the ‘Green and Gold’ campaign to oust the Grazers.

“The Glazers have called the US property market appallingly bad,” he said.

“They borrowed money at inflated valuations right at the top at the top of the cycle.

“In their core business in the USA they got is absolutely wrong.”

Panorama quotes Dave Whelan, the chairman of Wigan Athletic, as saying: “I don’t think anybody can be satisfied with how Manchester United are being run.

“They have got somewhere in the order of three-quarters of a billion pounds worth of debt.

“That has got to be eliminated and eliminated quickly.”

In March, United chief executive David Gill claimed the club’s debts were easily covered by the income.

He said then: “We have an element of the debt that is very easily serviced by the cashflows of Manchester United, we are in a sport that is getting bigger all the time and as one of the leading clubs we should benefit from that growth.

“We believe we have a much more appropriate and flexible financial structure in place.”

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At present the Tampa Bay Buccaneers are close to $100 million in debt and the Manchester United soccer club has amassed debts totaling $1.56 billion and rising. In the midst of this all , the Glazers have sought to renegotiate the financial obligations owed on this debt to their various creditors without much success. And why should the banks in question acquiesce to their requests to begin with ? Many of these very same banks had to be bailed out via their various sovereign governments and it would be something of a folly if they were to now bail out Manchester United , while not actually making funds available to small businesses much less a home owner looking to refinance their mortgage.

As the Premiership season has ended with United having finished as runners-up to Chelsea who once again made off seriously with some domestic silverware , having won the Premiership title and FA Cup . And in doing so they joined a select few teams that’ve completed the “domestic double” in having won both the Premiership league title and FA Cup in the same year. And whereas , Chelsea doesn’t have to worry about its financial stability as it is owned by Russian billionaire tycoon Roman Abramovich . The same cannot be said of Manchester United and their owners, the Glazer family under their patriarch Malcolm Glazer. With each passing month things are becoming more acute not only for both sport’s franchises but also for the family and their business interests. Their primary business interests outside that of the two clubs is that of their commercial real estate and mall holdings in First Allied Corporation . The company is one of the pre-eminent companies in its field . But as we all know with these dire economic times the consumer hasn’t been always been willing to spend much of their disposable income in many of the big box stores that First Allied has as its tenants. That being said the Glazers would have us believe that they have a 90 % occupancy rate at all of their various commercial real estate properties across the nation. If only that were true to begin with. On average the industry as a whole has lost many of their retailers and occupancy rates are averaging at best no more than 72 % .Somewhat of a misleading figure to begin with don’t you think that was forthcoming from the Glazers ?

In the midst of this all , the sons of Malcolm Glazer who oversee the sports holdings of the family have been less than upfront as to their intentions concerning both teams. And given the fact that the Buccaneers at present still owes the Tampa Bay Sports Authority in excess of $1.2 million for which the city of Tampa has yet to collect on this debt, which is in excess of two years old. It has me wondering what else is going inside of the ornate boardrooms of the Buccaneers’ organization . In this day and age when a city is now obfuscating their responsibilities to their citizens by not collecting monies owed to them but would seek to cut much needed and vital services to the community. I’ve got to ask myself in whose service are the city and in particular is Mayor Pam Iorio beholding to ? If not its residents then surely it can’t be to the Glazers at this juncture can it ?

And as ambitious as the aspirations are for the Tampa Bay Buccaneers this upcoming season . This Raheem Morris coached team will be hard pressed to surpass last season’s anemic record of a 3-13 in what was a horrendous display of football on all fronts. Morris , himself, had made the statement that ” throughout the season the team had improved it showed in their determination and play”. Now I’m not one to ridicule a coach in merely his second year on the job. But what the hell was he looking at throughout much of the season ? How the hell had the team improved when with each game they simply regressed and became worse over their entire regular sixteen game schedule ? In the midst of this all watching over this debacle were Avram , Joel, Bryan and Edward Glazer the sons of patriarch , Malcolm Glazer. The quartet are now entrusted in looking after the family business and its sporting interests. Let‘s just say that the job that they‘re now doing borders the mess that was orchestrated by Rick Wagner as he presided over GM and led the automotive giant into bankruptcy and looked to apportion blame elsewhere because of his rather asinine executive decisions as he presided over the company as its Chairman & CEO.

With the 2010 NFL Draft having come and gone , with the Buccaneers taking Gerald McCoy as their first round draft pick and third overall. It is hoped that McCoy along with the other picks taken by the Buccaneers in the draft will be enough to bolster what was been a very under achieving that team that was lacking in depth on all fronts !. No leadership, no play-maker but most of all no sense of urgency from either the team or coaching staff that seemed to be learning its trade whilst on the job. And this was meant to be a positive change of direction for the team and organization as a whole from the reign of Morris’ predecessor Jon Gruden ? Truth be told they’re now further into an abyss than they ever were before and all of the rosy speeches being made by Morris and GM Mark Dominik cannot hide the fact that the Buccaneers as an organization are on a slippery slope to nowhere and that they’re heading there fast !

If things should get much worse financially for either of the two sporting interests or even for First Allied , then there’s very much the possibility that the Glazers may well have to sell one if not both of their sports’ holdings. Some fans may well feel that this would be for the better given the tact taken by the family in their business dealings and obvious misinformation to the public and fans alike. But then again what’s new ? As normally this is very much the way that we now have many of the owners acting with regard to their baubles as it concerns the ownership of a major professional sports franchise. Never mind what they do by way of conducting themselves as it concerns their business practices and businesses in general. Simply look at the actions of Goldman Sachs , the now defunct Merrill Lynch , Bank of America and you can easily understand why it is that the economic meltdown came about within the financial industry and spread like wildfire across the economic landscape. Honesty and integrity went out the window as these executives chased after the almighty dollar foregoing financial expediency and their fiduciary responsibilities to their shareholders and the public alike. It is no different now with the Glazers and how they’re now treating not only the Buccaneers and Manchester United fans but also the residents of the city of Tampa. They simply cannot be trusted to be upfront and tell the truth , instead they choose to be evasive and lie about their present predicament. Somehow this will end up costing someone a great deal of financial pain and the burden at the end of it all may well be placed upon the shoulders of the fans when it’s all said and done.

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Picture gallery for your perusal

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Doubt my word on this all ? Then simply watch as everything now begins to unfold. One way or another there’ll be a lot that will come to the fore as this all begins to play itself out. Much of this could have been avoided had the Glazers shown the temerity to simply tell the truth right from the start. But as we know the “The Shortest Distance Between Two Points Is a Straight Line “. And having the courage to tell the truth has never hurt anyone , if anything it shows character and honor when taking such a stance . At this juncture is that what we’re actually seeing from the Glazer family ? I’ll leave it for you to be the judge of that !.

Alan Parkins aka tophatal …………………………

Lindsay Buckingham of Fleetwood Mac gives you an acoustic version of his self penned mega-hit “Trouble” .

Cato June, Derrick Brooks, Football, Ike Hilliard, Joel Glazer, Joey Galloway, NFL, Raheem Morris, Sports, Tampa Bay Buccaneers, Warrick Dunn

I Get It Then I Don’t ……………


 

I    Get  It  Then    I   Don’t   …………

 

 

 

 

Listening  to the  local  sport’s talk radio  shows   here  within  the   greater  Tampa  Bay  area.   I’m   finding  it  all  the  more  bewildering   to  see  the  bloodletting  that’s  now   taking   place   within  the  Tampa  Bay  Buccaneers  organization.   There   have  been   those   who   favor   the   moves  that’ve   taken  place. And   there  have   been   others   who   by  their   very   outrage   have   made    it  clear   that  it’ll  be  their   duty   to  call  out  the  organization  and   in  particular   the  Glazer  family   and  the   ineptitude  that  they’ve  shown   in   handling  this  all.

 

 

 

With the announcement that   came with the  very   fact  that  the  Buccaneers  had  made  the  decision  to  cut   defensive  stalwart   Derrick Brooks,  Joey  Galloway,  Warrick  Dunn,  Cato  June  and  Ike  Hilliard.   It  all  but   sent  a  message   as  to  how  messy  the  business  of the  NFL  really  is.     GM Mark   Dominik  along  with  coach   Raheem  Morris   all  but  made  it   clear  that    this   was   nothing    more   than a  business   decision  and  the  fact that  the  organization  was   now   moving   in a   new   direction.     Well that  new   direction  and  the   furor  that  these   maneuvers   have   created   has  led to an  outcry   not  heard  within   the  community    in a  long  while. 

 

 

 

Tampa  Bay  Buccaneers' coach  Raheem Morris  checks  an e-mail  message  following  a news conference  at the  NFL Scouting  Combine  in   Indianapolis , In.   picture  appears  courtesy  of  ap/photo/  Todd  Meyers  ............
Tampa Bay Buccaneers' coach Raheem Morris checks an e-mail message received having just attended a press conference at the NFL Scouting Combine in Indianapolis , Indiana . picture appears courtesy of ap/photo/ Todd Meyer .......................

 

 

 

This   may  well  be  nothing   more  than  a   business  decision  which  will  save  the  organization   money .   But  the  haphazard   way    in  which  management   went   about   in  dealing   with  this   smacks   of    stupidity  and  sheer   ineptitude.  It  may  well  have   not  been   the  decision  of   Dominik  and  Morris’  to  have  made.   But   the   thinking   is  that   this   came  down   from    up   on  high.    And  with  the  Glazer   family    in  the  guise   of   Joel  ,  Bryan and  Avram (Ari )   all   sharing   in  the  running   of   their   father’s   business  interests.  It   gives    credence  to  the   fact  that    the  Buccaneers  along   with  that   of   their   ownership    in   European   soccer   club   Manchester  United    has   placed  them  in  somewhat  of   an  unenviable    situation. 

 

 

 

 

 

 ving   bought  the  latter   through   privately   leveraging   the    club   for  a  sum  in   excess  of   $ 1.6bn   .  It  may   well   give   credence  to  the  fact  that  the   family  may  well  be  in  some   dire    financial   straits.    The  debt   has to  be  serviced  and   repaid. And  with  the  banks   clamoring   for  any  money   that  they’re  owed.   It  can  be  said   that   the   family   is   under   a  great  deal  of  pressure.  This  situation  was   handled   with  the  all  the  aplomb   of   a  nuclear   device    going   off.    The   explosion  was  loud   and  clear   and    felt    right  across   the  community.    Brooks   for   his   part   has  handled  this   all  with a  great   deal  of  class . As   too  have  his   former   teammates  who’ve    accepted   the   actions  of  the  organization. 

 

 

 

Derrick  Brooks  addresses  members  of  the  locally  convened press  at the  Buccaneers'   headquarters  in  Tampa, Florida.  The  Buccaners   had formerly  made  the announcement  that   Brooks  along  with  four  other  players  on  the   team's   roster  had  been   cut   from the  team.   picture  appears   courtesy  of  getty  images/ Frank   Eldridge ...................
Tampa Bay Buccaneers' defensive lineman Derrick Brooks speaks to the locally convened press at the Buccaneers' headquarters in Tampa , Florida. Brooks was there to take questions from the press after it was formerly announced by the organization that Brooks along with four other players had been cut from the Buccaneers' team roster. picture appears courtesy of getty images/ Todd Elridge ................

 

 

 

The  fallout   from  this  all   has  been  met   with   some dismay  and  nowhere   has   this  been  more    prevalent   than   within  the  news  media  and   in  particular    the   sport’s   talk   show  medium.    This  will  be  the   feature   story  for  the  ensuing   days  ,  if   not   weeks.   As   this   will  be   dissected  and   analyzed   as   much  any     media   story     out   there.   All  of   a  sudden  anything   concerning  the   Tampa   Bay   Rays   or     Tampa  Bay Lightning    will   become   almost   irrelevant.    

 

 

 

 

Well  it’s   now  too  late   for  a  do-over   and   if  anything   with   the   $62m  that  the  team  is   under   the  NFL salary   cap  will   go  a  long  way   in   determining   the   intentions  of  the  franchise.   With   free  agency    now   in  the  offing.  And   with  there    being  a  number   of  needs  that    have   to  be   addressed   by    the  team.   It   will   be   very   interesting   to  see  the   sort   of   decisions   that’ll  be   made   by     GM  Mark  Dominik  and    coach   Raheem  Morris.  And as  of  now  the   clock   is  now  ticking   on the  franchise ,  its  management  and  ownership  as  a  whole.

 

 

 

 

 

The   loss   of   Brooks  while    monumental,   it   is   very  hard   to  see  who’ll   now  be   viewed  as  the  inspirational  and   vocal  leader   of  this   team.    All  of  which   leads me  to  believe  that  the  franchise  will  be   in  for   some   very   rough and  turbulent   times   ahead.   Brooks    brought  to  the   game   a   desire   and   passion  to   play.   But    even   more   so    there  was    that  will  to  win   and   exert   himself    to  do  whatever   it’d   take.   Unfortunately   on  the   team   there  is   no   one    there   now   who    possesses    those    infinite   traits.    And  it’ll   definitely    be   some  time   before   we  can   truly  assess   where  the   team   stands  as  to  its   presence  as   a  contender or   pretender    amongst   the   franchises  within   the  NFL.

 

 

 

 

This   much  is   certain    where  they   now    are   and  where  they   envisage   that  they  want  to  be .   It  is    so  far   apart   that   it   doesn’t  warrant   thinking  about   at  this   juncture.   Talk  is    cheap   but   it’s   the   actions    of    a   franchise    that   goes   a   long   way  in  dispelling   any   apprehensions  that  the   fans   may  well   have   as to  supporting  the   franchise.

Eddie De Bartolo, Football, H D Wayne Huizenga, Joel Glazer, NFL, San Francisco Forty Niners, Sports, Stephen Ross, Tampa Bay Buccaneers

It’s Never About The Money Is It …………?


 

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  ,  Executive  VP President Edward Glazer, VP Bryan  Glazer, new  team coach  Raheem Morris and  Cheif Executive and  Chairman  Joel Glazer  of the  Tampa  Bay  Buccaneers.........

 

 

 

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  ..............
Eddie DeBartolo the former owner of the San Francisco Forty Niners ................

 

 

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  ?  

 

 

 

Billionaire  real estate  developer  and  now  principal  owner  of the  Miami  Dolphins  Stephen Ross (left)  seated  alongside  H D Wayne  Huizenga   who sold  a  majority  stake in the franchise  to  the  developer........
Billionaire reeal estate developer Stephen Ross (left) seated alongside H D Wayne Huizenga who sold a majority stake in the franchise to the developer ...................

 

 

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.