Malcolm Glazer’s long established estate succession plan for the two sports teams he owned will ensure they remain with the Glazer family for generations to come, the family has said in a statement.
Malcolm Glazer, the US real estate mogul and owner of Manchester United and NFL team the Buccaneers, has died aged 85.
The Buccaneers made a statement on their website about the future of the team.
“Linda Glazer, along with their five sons and daughter, will continue to own and operate the team as they have throughout the family’s ownership,” the statement read.
Glazer was the head of First Allied Corporation that owns an estimated 6.7 million square feet of shopping centre space across the US and is worth an estimated $700 million.
The firm which specialises in the ownership, management and leasing of shopping centres helped fund his purchase of Manchester United and the Buccaneers.
No comment has been made on which of his son’s will take over the real estate firm he founded. Three of Glazer’s sons Bryan, Avi and Joel have been taking an active leadership role at the two sports clubs since their father’s stroke in 2006.
Glazer bought the Buccaneers in 1995 and a decade later purchased Manchester United – eventually listing 10% shares of the UK Premier League football club’s shares in 2012.
Born in Rochester, New York as one of seven children, Glazer took over the family watch-parts business at age 15 following the death of his father.
Glazer owned or was a substantial shareholder of a diverse portfolio of international holdings and public companies, including: First Allied, Harley Davidson, Formica and Tonka.