Glazers Move Up The Wealth Ranks

April 6th, 2009
"If I were a wealthy man ..."

"If I were a wealthy man ..."

Of course, Joe spends most of his free time watching various sports and NFL Network, although he’s been known to keep up with world affairs.

Scanning the news wires, Joe found Forbes annual billionaire rankings issued in March. 

While Forbes reports the list of billionaires has seen about a 20 percent decline in the sagging economy, it seems “Malcolm Glazer & Family” has moved up about 100 spots to check in at No. 305 — Net worth $2.2 billion. 

Tampa tycoon holds the majority of his fortune in an asset class that holds value in a recession: sports teams. Owns pro football’s Tampa Bay Buccaneers, English soccer giant Manchester United. Man U won both English Premier League and Champions League in 2008, but massive debt load continues to hamper profitability despite rising revenues

The Glazers may not have the free flowing cash to comfortably write eight-figure signing bonuses. But Joe is quite certain they have all the money they need to spend the up to the salary cap and guarantee the contracts necessary to compete for a Super Bowl.

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