Palm Beach

Behind Ronaldo Deal, a Palm Beach Tycoon

By Thomas Francis Thu., Jun. 11 2009 at 11:06 AM
Categories: Palm Beach, Sports
ronaldo.jpg
Flickr User: donttread22
Ronaldo
The biggest news in the world's biggest sport is that international soccer star Cristiano Ronaldo, of Manchester United, has been sold to Real Madrid for a stunning $131 million. The architect of this blockbuster may have a South Florida address. Financial tycoon Malcolm Glazer of Palm Beach is the majority owner of ManU -- a position that has made him one of the U.K.'s most despised men.

hate glazer.jpg
Flickr User: Craig Antill
A recent Business Week article detailed the financial challenges that came with Glazer's takeover. Namely, that he had to both "ramp up revenue and cut costs" to make payments on the $490 million loan he needed to buy the club. That's made harder by the consensus opinion that ManU can't get much larger than its current colossal form, meaning that subtractions like Ronaldo, a prolific goal-scorer, were inevitable.

After the jump, one fan's tribute video.

Tags:

Malcolm Glazer, Palm Beach, soccer
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