Bucs: Not one penny with Madoff
UPDATE: Dan Sileo, host of a sports talk show on WDAE-AM 620, was suspended by the company that owns the radio station after on-air comments Thursday about the financial state of the Bucs’ owners, the Glazers, and potential plans to sell the team.
Sileo, who played one season for the Bucs in 1987, is suspended pending Clear Channel Communication’s investigation, said Dan DiLoreto, president and market manager of Clear Channel Tampa.
The station posted an apology on its Web site: “During a broadcast Thursday … morning host Dan Sileo made some statements about the Tampa Bay Buccaneers and the Glazier (sic) family that were factually incorrect. We sincerely apologize … and hereby issue a full retraction.”
The Tampa Bay Buccaneers strongly disputed the latest round of rumors about ownership's financial troubles and a possible sale of the team, issuing a statement from Joel Glazer denying a sports radio talk show host's report.
The latest rumor is based on comments made this morning by WDAE-620 AM's Dan Sileo on his radio show. Sileo said perceived cost-cutting measures and the Bucs' 0-7 start are largely a result of the Glazers indirectly having lost more than $400 million to Madoff's Ponzi scheme.
In his statement, Joel Glazer says the family has not invested one penny with Madoff.
Rumors about the Glazers selling the Bucs have been around at least since 2001 when the Super Bowl was in Tampa. Since the family bought the Manchester United soccer team in 2005 rumors have been persistent that the debt from that purchase and the faltering economy had put a strain on the Glazer finances.
Madoff stole more than $21.2-billion from more than 2,300 investor accounts he held, the Washington Post reports.
Madoff, who confessed to running the scam, is serving a 150-year sentence in a North Carolina federal prison.
Listen to the audio here: