Glazer family sells Zapata to hedge fund
Our friends in the Times/tampabay.com Business department have posted an interested item to their Venture Blog about the Glazer family selling its majority stake in Zapata Corp. to a hedge fund for $74 million. Of course, the Tampa Bay Buccaneers owners have a heavy relationship with hedge funds that loaned them money for the purchase of Manchester United. Still unclear is what the Glazers overall financial situation is, but Zapata was an important investment, serving as a holding company for other businesses. Malcolm Glazer's son, Avram, is chief executive officer of Zapata.
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BROKE
Posted by: KennyNance | July 07, 2009 at 06:55 PM
Is a hedge fund similar to a slush fund? Does this mean a reprieve has been given to some individuals? The reprieve being, they no longer have to worry about having their legs broken.
Posted by: Drew | July 07, 2009 at 09:06 PM
Okay then sell the Bucs to Debartalo he wants to buy them. I like the Glazers but if they are to sell them, sell them to someone that has fire about football. Thats if they are truly broke... I know they say the team is not for sale and they offered Haynesworth 120mil. Its hard to say what is what but again if they do sell I hope it is to debartalo.
Posted by: TrueBucFan | July 07, 2009 at 10:18 PM
Good point TrueBucFan, I have been saying I want Debartalo as a owner all along. He was there for 5 Superbowls for the 49ers. That guy knows football. The Glazer's know how to go bankrupt. (Yes I know its unproven) The difference between Debartalo and the Glazer's is that Debartalo will not buy another sport team besides the Bucs. His only concern would be the Tampa Bay Bucs. On the other hand I have no idea why the Glazer's don't sell.. Because if the were broke they would have sold the Bucs. The Bucs are worth a billion easy. Hell if the Dolphins were... The Bucs would be. So it seems they still got the money.
Posted by: GoBucs | July 07, 2009 at 11:41 PM
Ahh what a wonderful world it would be: Debartalo as owner, Dungy overseeing all football operations, Allen as GM, Gruden as HC, Wyche as OC and Kiffin as DC. Instead we have Glazer, Dumminik, the Dream and whoever else is on the squad! Oh well, I think I'll go back to sleep and dream of Lombardi's we'll never see under the current admin.
Posted by: Kurt | July 08, 2009 at 08:34 AM
So now the Glazier asset liquidation counter is $129 Million (93M Euros) for Ronaldo, and now $74 Million for Zapata all with in 30 days.
Not a sign that everything is kosher financially speaking.
Curious if the hedge fund they sold Zapata to is the same one they owe for the Manchester United purchase.
Posted by: kris | July 08, 2009 at 12:22 PM
Outside the box: Has anyone else been to the Buccaneers website? It looks horrible now. They changed everything. The photos at top of page have some sort of touch-up/darking photoshop done to them, puke!
Posted by: OAR | July 08, 2009 at 01:07 PM
OAR - You're right the site looks like garbage now. I wonder if they fired the web master, or if he/she was part of the Zapata sale. :snicker:
Posted by: kris | July 08, 2009 at 01:38 PM
Kris, a co-worker wondered if they hired a junior high kid.
Posted by: OAR | July 08, 2009 at 02:00 PM
i love this fanbase...the next QB\coach\GM\owner is always better than the one we've got. at least we haven't started opining on who should replace gene deckerhoff.
Posted by: skp | July 08, 2009 at 02:40 PM
Deckerhoff is great, but Moore sucked. It's easy to do Skip when you can recognize talent.
Posted by: Kurt | July 08, 2009 at 02:59 PM
I agree OAR. I went to Bucs.com and couldn't believe it. Difficult to navigate. I thought it was pretty good before, how they had it separated with Written, Video, & Radio. I really miss the Brooks and Galloway shows the most. I know they're gone now, but at least you could find everything. Oh well if ain't broke, break it. Kurt, I love Gene Deckerhoff. I hope he stays around forever. TOUCHDOWN! TAMPA BAY!!!
Posted by: BucFandango | July 08, 2009 at 04:40 PM
Gruden as a coach?, thank God that nightmare is over, Debartolo as owner, i like that, i don't care what he did and his legal problems, the truth is he won like 5 championships.
Posted by: ProzacJM | July 08, 2009 at 04:47 PM
Kurt... you off the mark. Considering Moore's experience level, he did a great job. A lot better than Hardy ever did and even as close as Brantley. I respect Dave's knowledge of the game and if you knew him at all (which I do), you know he went outside his comfort zone to go on radio.
Posted by: pbe26 | July 13, 2009 at 10:27 AM