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May 28, 2014

Man United owner Malcolm Glazer dies

Gab Marcotti reflects on the life of Manchester United owner Malcolm Glazer.

Manchester United owner Malcolm Glazer died on Wednesday at age 85.

Glazer, who bought United in 2005, also owned the NFL's Tampa Bay Buccaneers, who announced his death on their website.

The reclusive Palm Beach, Florida, 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.

Under Glazer's ownership, United won the Premier League five times, as well as the Champions League in 2008.

"The thoughts of everyone at Manchester United are with his family tonight," the Premier League club said.

His $1.47-billion (790 million pounds) takeover of Manchester United involved a large amount of debt and was bitterly opposed by fans. United fans protested and burned Glazer's likeness in effigy because they feared the American was acquiring the storied club purely for financial gain.

At the time, Mark Longden of the Independent Manchester United Supporters Association, said his group was "calling on all supporters to wear black. If they can get hold of black flags, they should wave them because it represents what is happening to the club."

Although United's debt has dropped from a high of high of $1.1 billion in 2008-09 to $590 million, anger toward the Glazers has remained among sections of the fan base. The family's divisiveness in Manchester has been exacerbated by its reluctance to engage with any supporters or speak publicly about the club.

Glazer appointed his sons Joel and Avram as joint chairmen of United's board, and the family's ownership of the club is not expected to change. Malcolm Glazer was not a member of the United board, while his other children -- Kevin, Bryan, Darcie and Edward -- are club directors.

The Glazer family controls 90 percent of the club shares, which went public on the New York Stock Exchange in 2012.

Manchester United's brief statement did not refer to the future of the club, but the Buccaneers, who won a Super Bowl under Glazer's ownership in 2003, said a succession plan will assure the NFL franchise remains in the family, with his wife, Linda, and children continuing as owners.

"Malcolm Glazer was the guiding force behind the building of a Super Bowl-champion organization. His dedication to the community was evident in all he did, including his leadership in bringing Super Bowls to Tampa Bay,'' NFL commissioner Roger Goodell said.

Born 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 Buccaneers announced that the Glazer family would host a private family funeral service, with a public memorial to be announced later.

Information from The Associated Press was used in this report.

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