vmax Posted July 1, 2013 Share Posted July 1, 2013 Browns fans got to wake up and read this with their morning cup of coffee... ....More from the Plain Dealer: But of even more concern about Haslam's future with the Browns was contained in a story in Tuesday's Wall Street Journal:"The company's debt nearly doubled to $4 billion in a two-year period through last year, as its owners paid themselves two payments totaling $1.7 billion from it, according to Moody's."Last year, Pilot issued $1.1 billion of the debt -- largely to fund the second one, a dividend for $700 million, according to S&P. That was partly so Jimmy could buy the Cleveland Browns."So Pilot Flying J was $4 billion in debt before the FBI raid?Apparently so.We don't know yet if Haslam knew about this alleged fraud -- he said he didn't, but the continued tally of those executives who are pleading guilty make his arguments a little tougher to take -- but you can be sure that if he is implicated, his tenure as an NFL owner will be very short indeed.http://www.cbssports.com/nfl/blog/eye-on-football/22596946/report-haslams-pilot-flying-j-4-billion-in-debt-credit-rating-hurt Here's the Cleveland Pain Dealer article...http://www.cleveland.com/pluto/index.ssf/2013/06/trouble_never_seems_to_end_for.html Quote Link to comment Share on other sites More sharing options...
papasmurfbell Posted July 2, 2013 Share Posted July 2, 2013 How in the hell did teh league while going through his books did they let him buy the team. Quote Link to comment Share on other sites More sharing options...
OutsideRzAcE Posted July 2, 2013 Share Posted July 2, 2013 Yea someone didn't do their homework. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.