Bucs deny sale, Madoff rumors

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Late Thursday night Clear Channel issued a statement about the Madoff rumors:

Dan Diloreto, President and Tampa Market Manager of Clear Channel:  "Dan Sileo has been suspended pending further investigation into this matter."

Tampa, Florida - Reports that the owners of the Buccaneers lost $450 million in investments related to Bernie Madoff and may have to sell the franchise were refuted on Thursday by team co-chairman Joel Glazer.

"The report today by WDAE's Dan Sileo about our family and the Tampa Bay Buccaneers is 100 percent false," said Glazer.  "The Tampa Bay Buccaneers are not, nor have they ever been for sale. In addition, our family or any of our related companies have never invested one penny with Bernie Madoff."

Sileo, who said he stands by his report, said the Glazers were indirectly connected to Madoff through their troubled banking institutions.  He says Bryan and Joel Glazer belong to the same Palm Beach Co. country club as Madoff's sons and Wall St. insiders tell him they have investments together.

He also accuses the Glazers of purging popular, high-price veterans and running the team on the NFL's lowest payroll because of their current financial problems.

"Do the Glazers want to get rid of the team? I don't believe that," Sileo said.  "But I think sometimes you're pushed into a corner where you've got to come up with coming up with operating expenses and that's why the Bucs are $34M under the salary cap."

Forbes' 2009 NFL valuations rank the Bucs as the eighth-most valuable franchise, at $1.085 billion.  When Malcolm Glazer bought the team in 1995, it was for a then-record $195 million.

Forbes also ranks the Glazer family #305 in its list of 2009 billionares.  It writes much of the family's $2.2 billion worth is "in an asset class that holds value in a recession: sports teams."

The Glazers also own the most valuable sports franchise in the world, England soccer power Manchester United.  And according to Maury Brown with the Buisness of Sports Network, the family was also once considered the frontrunner to buy the Los Angeles Dodgers.

Glazer's statement continued: "The report is baseless, irresponsible and slanderous. This type of behavior by Mr. Sileo and his company Clear Channel will be dealt with in the appropriate manner."