Mets Unlikely To Make Another Splash In Free Agency Why Was Bears-Eagles Flexed To NBC? Phillies Not Planning To Increase Payroll Sounders To Increase Capacity In '14 Craig Morton Sues NFL Over Dangers Of Playing Dolphins Investigation Won't Wrap In '13 Blazers President Enjoys Busy First Year Super Bowl Organizers Unveil Mass Transit Plan Redskins Sorting Through Shanahan Options ESPN Sees Bump For Week 14 "MNF"
TWO FIRMS USED AS COLLATERAL IN BUCS SALE
Published August 7, 1995
Documents filed Thursday show that Bucs Owner Malcolm Glazer "borrowed heavily against his ownership stake in two companies to raise money" for his purchase of the team, according to Rex Henderson of the TAMPA TRIBUNE. Glazer pledged his stock in Specialty Equipment Cos. Inc. and Houlihan Restaurants Inc. as collateral to borrow $66M from three banks. The documents also show he got access to another $20M in unsecured loans through the same transaction. NFL rules allow owners to borrow $50M with the team as collateral. But the league "imposes no rules about how the owners raise the rest of the purchase price" (TAMPA TRIBUNE, 8/5).