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Billionaire and NFL team owner Glazer dies at 85

By: Associated Press
May 28, 2014 Updated: May 28, 2014 at 2:44 pm
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photo - FILE - In this Jan. 26, 2003 file photo, Tampa Bay Buccaneers owner Malcolm Glazer celebrates the Bucs' 48-21 victory over the Oakland Raiders in Super Bowl XXXVII in San Diego. Glazer, the self-made billionaire who owned the NFL's Tampa Bay Buccaneers and English soccer's Manchester United, has died.  He was 85. The Bucs said Glazer died Wednesday, May 28, 2014.  (AP Photo/Dave Martin, File)
FILE - In this Jan. 26, 2003 file photo, Tampa Bay Buccaneers owner Malcolm Glazer celebrates the Bucs' 48-21 victory over the Oakland Raiders in Super Bowl XXXVII in San Diego. Glazer, the self-made billionaire who owned the NFL's Tampa Bay Buccaneers and English soccer's Manchester United, has died. He was 85. The Bucs said Glazer died Wednesday, May 28, 2014. (AP Photo/Dave Martin, File) 

TAMPA, Fla. — Malcolm Glazer, the self-made billionaire who owned English soccer's Manchester United and the NFL's Tampa Bay Buccaneers, has died. He was 85.

The Bucs said Glazer died Wednesday.

The reclusive Palm Beach businessman had been in failing health since April 2006 when a pair of strokes left him with impaired speech and limited mobility in his right arm and leg.

Glazer raised his profile in 2005 with a $1.47 billion takeover of Manchester United that was bitterly opposed by fans of one of the world's richest soccer clubs. Before that, his unobtrusive management style helped transform the Bucs from a laughingstock into a model franchise that in 2003 won the Super Bowl 48-21 over the Oakland Raiders.

Born Aug. 25, 1928, in Rochester, New York, the son of a watch-parts salesman, Glazer began working for the family business when he was 8 and took over the operation as a teenager when his father died in 1943.

As president and CEO of First Allied Corp., the holding company for the family business interests, he invested in mobile-home parks, restaurants, food service equipment, marine protein, television stations, real estate, natural gas and oil production and other ventures. In March 2010, Forbes ranked him as tied for the world's 400th richest person, estimating his net worth at $2.4 billion. The magazine's separate ranking of Americans put him and his family at 139th in fall 2008.

He purchased the Bucs for a then-NFL record $192 million in 1995, taking over one of the worst-run and least successful franchises in professional sports. And while Glazer once said he probably overpaid by $50 million, the value of the team has more than quadrupled since he assumed control.

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