Malcolm Glazer
Malcolm Irving Glazer (born
1928 in
Rochester,
New York) is a
Jewish American businessman and sports-team owner. He is
president and
chief executive officer of
First Allied Corporation, a
holding company for his varied business interests. He holds controlling stakes in the
Tampa Bay Buccaneers, a
National Football League (NFL) team located in
Florida, and
Manchester United, a
FA Premier League football club from
Manchester,
England.
Malcolm Glazer now lives in
Palm Beach,
Florida. His father is said to be a deserter from the Russian Army before traveling to the United States. He went on to became head of his family and took over the watch parts business in 1943 at the age of 15 when his father died. At that time he had just $300 to his name. However, his sisters claim that his father left him a sizeable inheritance.
The business first expanded into property, buying several mobile home parks in the
1970s, mainly in the Florida area. He went on to become president and
chief executive officer of First Allied, a U.S. holding company for his various business interests. He is married to Linda and has five sons and one daughter
Avram,
Kevin,
Bryan,
Joel,
Darcie and
Edward. Three of them (Joel, Bryan and Edward), are vice-presidents in First Allied. He now runs a wide-ranging business empire that includes shopping centers and nursing homes.
On
16 April,
2006, Glazer suffered a stroke causing impaired speech and loss of mobility in his right arm and leg.
[" Glazer recuperating after stroke", BBC News, 24 April 2006. Retrieved 28 June 2006.] At the time, his son
Joel said "My father's spirits are high and doctors expect his condition to improve with rehabilitation," but after spending much of the intervening period in hospital, Glazer suffered a second stroke in May, 2006. His condition is not said to be life-threatening.
[" Man Utd owner has second stroke", BBC News, 19 May 2006. Retrieved 28 June 2006.]After his mother's death in
1980, Glazer was involved in an acrimonious dispute with his sisters over their mother's
$1 million
will.
Glazer's first attempt at a corporate takeover was in
1984, when he launched an unsuccessful 7.6 billion dollar bid to buy the bankrupt freight rail company,
US Conrail. His attempts to raise the difference between his own $100m assets and the purchase price failed. He also failed in an attempted takeover of kitchen designer
Formica in
1988 and, later, with motorcycle manufacturer
Harley-Davidson.
One of the companies that Glazer did purchase successfully was the nearly bankrupt
Zapata, an oil and gas company founded by
George H. W. Bush. Glazer successfully diversified it into fish protein and
Caribbean supermarkets.
Glazer has owned a diverse
portfolio of nationwide investments which include
food service equipment, food packaging and food supplies, marine protein,
broadcasting,
health care,
property,
banking,
natural gas and
oil, the
Internet,
stocks and
bonds and even sausage skins makers.
Tampa Bay Buccaneers
Since 1995, Malcolm Glazer has been the owner of the
Tampa Bay Buccaneers, a
National Football League franchise, after paying $192 million. The front office staff of the team includes
Bryan Glazer,
Edward Glazer and
Joel Glazer.
The Glazer family was enticed by Baltimore with plans for a new more profitable stadium but after the city of Tampa passed legislation for and a new state-of-the-art stadium
Raymond James Stadium. It was built in
Tampa to retain the team and replaced the old dated Tampa Stadium that was maligned by sportscaster Chris Berman as the "Big Sombrero" for its shape.
As of 2004 the franchise is valued at around $675 million.
Prior to Glazer ownership the Buccaneers were perennial losers, maligned by others as the Yuccaneers and other derogatory names. The hiring of qualified football coaches and office staff quickly turned around the franchise and in a short few years the team was a playoff contender. In the 1999 season the team, then coached by Tony Dungy, was defeated in the NFC championship game by the heavily favored St. Louis Rams by a score of 11-6 in a game in which the Bucs and their defensive-minded scheme nearly pulled a major upset. In the 2002 season, the first season with new coach Jon Gruden, the Buccaneers defeated the
Oakland Raiders for their first Super Bowl victory. Gruden had coached the Raiders the previous season.
Manchester United
In May
2005, Glazer paid $1.4 billion for a 98% stake in
English Premier League football team
Manchester United, following a nearly year-long
takeover battle. The takeover was fiercely opposed by many fans of Manchester United, led by
Shareholders United, principally due to the fact that the Glazer takeover saddled the club with a large debt (over $850m). A new non-league team,
FC United was formed in 2005 by some disgruntled Manchester United fans.
*
iMUST: The Independent Manchester United Supporters' Trust (formerly Shareholders United)*
Shareholders United: The Manchester United Supporters' Trust*
First Allied Corporation*
Tampa Bay Buccaneers*
Glazer Family Foundation*
Details of Glazer Bid for MUFC*
BBC Documentary on Glazer
