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 Glazer, who as a teenager sold watch parts from a suitcase before
building a wide-ranging business empire, bought the Buccaneers in
1995 for a then-NFL record of $192 million. He later persevered with
the purchase of Manchester United, one of England's most-storied
soccer teams in 2005, a deal that fueled controversy because of its
debt-driven financing.
However, Glazer was largely sidelined in recent years from both the
teams' business dealings by a series of strokes.
After his purchase of the Buccaneers, he led what had traditionally
been one of the weakest teams in the National Football League to its
first Super Bowl championship in 2003.
"A dynamic business leader, Glazer helped mold the Buccaneers into a
model franchise and one respected league-wide," the Buccaneers said
in a statement on their website.
His supporters credited him with spending big to hire players and a
coaching staff to turn around a team in one of the NFL's smallest
markets.
While the team has struggled on the field recently, Glazer's
investment has proved profitable and the business magazine Forbes
estimates it is now worth more than $1 billion.
His death is unlikely to lead to any ownership change, according to
a statement by the Buccaneers. The family's "long established estate
succession plan" means the team "will remain with the Glazer family
for generations to come," the team said.
MANU TAKEOVER
Glazer raised his profile in 2005 with an aggressive debt-driven
$1.47 billion takeover of Manchester United that was widely opposed
by many of the club's fans.
Fans, under the banner "loveUnitedhateGlazer," argued the debt built
up in the deal would hurt the club and force supporters to pay
higher ticket prices.
Glazer went on, however, to preside over one of the most successful
eras in the club's storied history.
"The thoughts of everyone at Manchester United are with the family
tonight," the team said in a statement.
Under Glazer's ownership, the team won five Premier League titles in
England as well as the 2008 UEFA Champions League championship.
Manchester United is widely considered one of the world's most
valuable sports teams, though it recently ended the season in 7th
place in the Premier League, the club's lowest finish in two
decades.
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Glazer no longer had any day-to-day connection to the club and the
ownership is in the hands of Glazer's children, led by the club's
co-chairs, Avram and Joel Glazer. The family retains a 90 percent
stake in the club that is split evenly among Glazer's six children.
The remaining 10 percent is listed on the New York Stock Exchange
Glazer, the fifth of seven children born to Jewish Lithuanian
immigrants, turned to sports after a successful business career.
As a young man, Glazer used the profits from a family watch-parts
business he inherited at the age of 15 to make investments in a
range of real estate ventures, including mobile homes and nursing
homes, many of them in Florida during the 1970s.
He first came to prominence in the 1980s when he built up stakes in
two big brand names - kitchen surfaces company Formica and
motorcycle maker Harley Davidson <HOG.N> - before cashing in. He
later launched a series of failed bids, including a $7.6 billion
attempt to buy the bankrupt freight rail company Conrail.
Glazer also founded First Allied, a holding company for the family's
business, which includes dozens of malls and shopping centers in the
United States.
A decade later, the Glazer family gained a controlling stake in the
oil company Zapata, which was founded by former President George
H.W. Bush.
Forbes estimates the net worth of Glazer and his family at $4
billion.
A resident of Palm Beach, Florida, Glazer is survived by his wife,
Linda, his children and 14 grandchildren.
(Additional reporting by David Adams,Keith Weir in London and
Narottam Medhora in Bangalore; Editing by G Crosse and Steve
Orlofsky)
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