Buccaneers owners dispute financial woes

Football Betting Lines

06/07/2010 - Tampa, FL (Sportsbook Betting Lines) - The Tampa Bay Buccaneers released a statement Monday saying that the Glazer family, which owns the team, is "well positioned" financially, refuting a British report that claims otherwise.

The statement comes on the same day a BBC report said the family, which also owns Manchester United of the English Premier League, has a debt of about $1.6 billion -- more than $570 million than previously known. The report said the debt levels may threaten the family's ownership of Manchester United, but added that the Glazers said they hold nearly $3 billion in assets.

The BBC reported that mortgage documents show the Glazers have borrowed $570 million against their shopping centers (First Allied Corporation) and $95 million against the Buccaneers. That's in addition to their $1 billion Manchester United debt, part of which the BBC reported will be charged at an interest rate of 16.25 percent.

In light of the report, the Buccaneers released a statement Monday saying that their fans "should know that the Glazer family is as financially well- positioned as ever before." The statement said companies the Glazers own generate more than $800 million in revenue each year.

"Sophisticated real estate experts know that the family's refinancing of their commercial real estate before the global meltdown has proven to be the wise move," the statement said.

"While First Allied represents only a small portion of their asset portfolio, it continues to generate significant profits, enjoys over 90 percent occupancy, and has long term non-recourse financing.

"This franchise remains committed to bringing the resources to build its next championship team."

The BBC reported, however, that most of the shopping centers do not generate enough income to draw even with interest payments, adding that four have already gone bankrupt. The report said banks have put a number of the centers on a watch list, and said First Allied properties are worth about $550 million -- less than what the family borrowed against the company.

Wwwherald Football Betting News

<< Rose moves to 33rd in world rankings
Philadelphia, PA (Sportsbook Betting Lines) - Justin Rose earned his long-awaited first PGA Tour win on Sunday at the Memorial Tournament and jumped from 66th to 33rd in this week's world golf rankings. Graeme McDowell collected his fifth European T

<< Parker soars in world rankings after first LET win
Philadelphia, PA (Sportsbook Betting Lines) - England's Florentyna Parker claimed her first Ladies European Tour title on Sunday and soared 93 places to No. 139 in the world rankings for women's golf. Meanwhile, Yoshimi Kohda also earned her fi

<< Real Madrid locks up Higuain
Madrid, Spain (Sportsbook Betting Lines) - Argentina striker Gonzalo Higuain has ended uncertainty about his future at Real Madrid by signing a new six-year contract. The 22-year-old South American has been heavily linked with a move to En

<< Vorsah extends Hoffenheim deal
Sinsheim, Germany (Sportsbook Betting Lines) - Hoffenheim defender Isaac Vorsah has ended speculation over his career by penning a new three-year contract with the Bundesliga side. Vorsah, who is expected to feature heavily for Ghana in thi

<< Hewitt rolls; Ferrero falls on grass in Halle
Halle, Germany (Sportsbook Betting Lines) - Former world No. 1 Lleyton Hewitt was an easy first-round winner, while former top-ranked star Juan Carlos Ferrero came up a loser Monday at the Gerry Weber Open, a grass-court Wimbledon tune-up. The ei

Lookin At Lucky tops final three-year-old poll >>
New York, NY (Sportsbook Betting Lines) - Preakness Stakes winner Lookin At Lucky came out in first again in the final NTRA Thoroughbred Three-Year-Old Poll of 2010. The colt was followed by Kentucky Derby champ Super Saver and Belmont Stakes winner

Rybarikova, Tanasugarn advance in Birmingham >>
Birmingham, England (Sportsbook Betting Lines) - Tenth-seeded reigning champion Magdalena Rybarikova and Thai veteran Tamarine Tanasugarn were among Monday's winners at the $220,000 Aegon Classic, a grass-court Wimbledon tune-up. Rybarikova

Brewers part ways with veteran P Suppan >>
Milwaukee, WI (Sportsbook Betting Lines) - The Milwaukee Brewers released veteran right- handed pitcher Jeff Suppan on Monday. The 35-year-old came to Milwaukee via free agency in December 2006 after spending the previous three seasons with St.

Shea claims first Player of the Week award >>
New York, NY (Sportsbook Betting Lines) - FC Dallas midfielder Brek Shea was voted Major League Soccer Player of the Week for week 11 of the 2010 MLS season. Shea scored two goals for FC Dallas in the span of two minutes during their 2-0 victory

Montgomerie fires 62 to qualify for British Open >>
Berkshire, England (Sportsbook Betting Lines) - European Ryder Cup captain Colin Montgomerie fired an eight-under 62 on Monday to qualify for his 21st consecutive British Open. Montgomerie matched the 18-hole scoring record on Sunn

MySportsbook.com refunds all bets on Oakland, Green Bay and Tampa Bay from NFL week one.

(September 14) – Week one of NFL action saw three teams go scoreless for the first time since 1977.  Another four were unable to get a touchdown and almost half of the underdogs covered the spread. Those three teams saved bettors at MySportsbook.com from losing out completely, thanks to the company’s unique NFL Shutout Rule -- which ensures that if the team you backed goes scoreless, your wager is refunded.

Sportsbook refunded tens of thousands of dollars to customers who bet on Oakland, Green Bay and Tampa Bay, the three teams that stunk up the field so badly that their fans and backers never had a chance to get up from their couches and cheer.  In the spirit of the low scoring start to the season, odds makers at the world’s largest online sportsbook and casino have set odds on how many total shutouts there will be this season. 

MySportsbook.com has posted updated sports betting lines for week two of the season.  Ben Roethlisberger’s health status is still questionable, so Willie Parker will try to lead Pittsburgh again as they travel to Jacksonville as a one point favorite.  After beating up on his little brother last week, Peyton Manning will look to lead the Colts to victory against Houston. Indianapolis is a whopping 13.5 favorite in the match-up.

Seattle, last year’s highest scoring team, showed the power of their defense with their gritty 9-6 win in Motown over the ravenous Lions.  They take their act back home to the comforts of Qwest Field where they will face the resurgent Arizona Cardinals.  The Seahawks are favored by a touchdown. 

To visit this online sportsbook got to MySportsbook.com for all your Sportsbook accepts Visa needs.

FOOTBALL BETTING : Crabtree's base deal: six years, $32 million

Football Betting

In the wake of the news that the 49ers have signed receiver Michael Crabtree after an extended holdout, there has been not a hint of the dollars to be paid to Crabtree.

And since this means that his agent hasn't leaked the numbers, it means that his agent feels no specific motivation to do so.

Possibly because his agent isn't all that thrilled to have his name on the deal.

So the numbers will come from sources other than Crabtree's agent. And we've gotten our mitts into them.

Per a league source, Crabtree has signed a six-year, $32 million contract. (The total includes guaranteed money, base salaries, and the one-time incentive based on achieving minimum playing time.)

The deal also includes $17 million in guaranteed money.

As reported elsewhere, the deal can void to five years based on performance triggers, wiping out a final year base salary of $4 million. But they won't be easily reached.

The source tells us that, in his first four seasons (including 2009), Crabtree must either qualify for two Pro Bowls, or he must qualify for one Pro Bowl in one year and he must participate in 80 percent of the offensive snaps in a separate year in which the team makes the playoffs.

In other words, if in 2010 he qualifies for the Pro Bowl and the team makes the playoffs and he participates in 80 percent of the snaps, he'll still need to make it to the Pro Bowl or achieve the 80-percent/playoffs in another season.

Since the chances of Crabtree making the Pro Bowl or participating in 80 percent of the offensive snaps this year is roughly zero percent, he'll have three years to get it done.

And it won't be easy. Frankly, he'll be hard pressed to make it to one Pro Bowl in three years with the likes of Larry Fitzgerald, Calvin Johnson, Anquan Boldin, Steve Smith, the other Steve Smith, Hakeem Nicks, DeSean Jackson, Johnny Knox, Percy Harvin, Greg Jennings, Roddy White, T.J. Houshmandzadeh in the same conference for sportsbook betting.

So, by all appearances, it's a six-year deal. And at $17 million in guaranteed money, the per-year guarantee is a tepid $2.83 million per year.

There's another problem with the deal -- it has no mid-tier incentive package. Instead, the additional $8 million that Crabtree can earn (pushing the max value to six years, $40 million) requires the kind of unrealistic, mega-star performances that no rookie is likely to ever achieve.

So while the contract paid to Packers defensive tackle B.J. Raji covers five years and pays $22.5 million, he has the ability (if he's a solid player) to make up the difference between his base deal and Crabtree's five-year, $28 million haul via the mid-tier incentive package in Raji's deal.

And unless Crabtree meets the performance thresholds necessary to void the sixth year, he'll be stuck under contract for another year at a base salary of only $4 million.

There's one other area of concern with the deal. Crabtree, per the source, received no option bonus. Instead, he has significant money tied to a fairly new device known as a "discretionary salary advance," which unlike an opition bonus is subject to forfeiture if Crabtree decides in a year or two that he wants to hold out for a better deal. (We're also told that the 49ers have included language that would make certain escalators subject to forfeiture, too.)

Meanwhile, the deal falls well short of the mark for which Crabtree and agent Eugene Parker were aiming -- the five-year, $38.25 million contract paid by the Raiders to receiver Darrius Heyward-Bey, the seventh overall pick in the draft.

Even if Crabtree successfully voids the final year, he'll make more than $2 million per year less on average than Heyward-Bey.

Thus, as we explained earlier in the day, this is a deal that Crabtree could have done in July, which would have given him a much better chance of making a contribution to the 49ers during his rookie year.

So while the final outcome can be described as win-win, the broader view suggests that it's really a lose-lose situation.

NFL Betting Lines

To visit this sportsbook go to MySportsbook.com for all your college football betting needs.