Jeanie Buss Puts Organization On Notice NFL Panthers Add Private Stadium Club Orlando City Opener Fills Citrus Bowl Cowboys' Jones Asks To Stay Off Witness Stand Eight Challengers Vying For NFLPA Exec Dir Job Marlins Changing Reputation By Spending AFL Outlaws Market Around Vince Neil Lionsgate Chair Emerges As Hawks Bidder NFL Draft Will Utilize Chicago's Grant Park Carson NFL Backers File For Ballot
Upcoming Conferences and Events
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).