Billionaire and NFL team owner Malcolm Glazer dies at 85

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Billionaire and NFL team owner Malcolm Glazer dies at 85
Tampa Bay Buccaneers owner Malcolm Glazer emerges from the NFL owners meeting after its conclusion Wednesday, March 8, 2006, at a hotel at the Dallas-Fort Worth International Airport in Grapevine, Texas. NFL owners chose the certainty of a salary cap over the prospect of life without one, and they're paying for it. The league agreed to the union's proposal, including a revenue-sharing component that will cost owners nearly a billion dollars over the next six years. (AP Photo/D.J. Peters)
FILE - This March 7, 2006, file photo shows Tampa Bay Buccaneers owner Malcolm Glazer being directed by an unidentified man outside the NFL owners meeting at Dallas-Fort Worth Airport in Grapevine, Texas. The American owners of Manchester United are 1.6 billion in debt, leaving their control of the club in doubt, the BBC reported Monday, June 7, 2010. The BBC said its investigation found the Glazer family's debts are $570 million greater than previously known. Malcolm Glazer and his sons also own the Tampa Bay Buccaneers. (AP Photo/D.J. Peters)
Tampa Bay Buccaneers owner Malcolm Glazer, right, arrives for funeral services for James Dungy, son of Indianapolis Colts head coach Tony Dungy, Tuesday Dec. 27, 2005, in Tampa, Fla. James Dungy, 18, died last week of an apparent suicide. (AP Photo/Chris O'Meara)
** FILE ** Joel Glazer, left, Bryan Glazer, center, and Tampa Bay Buccaneers team owner and president Malcolm Glazer, right, at the Ritz-Carlton Hotel in Washington, Wednesday, May 25, 2005. Malcolm Glazer appointed his three sons Joel, Bryan and Avram, to the board of English Premier league soccer team Manchester United, on Tuesday, June 7, 2005, extending his control over the world's richest soccer club. Malcom Glazer, became majority shareholder of Man United on May 16, 2005.(AP Photo/J. Scott Applewhite)
Tampa Bay Buccaneers team owner and president Malcolm Glazer, right, joined by Joel Glazer, left, are all smiles as they gather for the announcement of Tampa Bay being awarded the 2009 Super Bowl, during the NFL's Spring Meetings at the Ritz-Carlton Hotel in Washington, Wednesday, May 25, 2005. (AP Photo/J. Scott Applewhite)
Bryan Glazer, executive vice president of the Tampa Bay Buccaneers football franchise, standing at the lectern, rejoices in the good news as Tampa Bay is awarded the 2009 Super Bowl during the NFL's Spring Meetings at the Ritz-Carlton Hotel in Washington, Wednesday, May 25, 2005. Left to right are: Joel Glazer, team owner and president Malcolm Glazer, NFL Commissioner Paul Tagliabue, Bryan Glazer, Super Bowl Task Force Chairman Dick Beard, and Tampa Mayor Pam Iorio. (AP Photo/J. Scott Applewhite)
The Tampa Bay Buccaneers owner Malcolm Glazer, left, and his New York Jets counterpart Robert Woody Johnson smile as they hold a football together during a press conference at Tokyo Dome hotel in Tokyo Thursday, July 31, 2003. The two NFL teams were here to play in Saturday's exhibition match before Japanese spectators at Tokyo Dome. (AP Photo/Katsumi Kasahara)
** FILE ** Tampa Bay Buccaneers team owner Malcolm Glazer is seen in this Feb. 20, 2002 file photo, in Tampa, Fla.. Glazer, the owner of Manchester United and the Buccaneers, was still in the hospital on Friday, May 19, 2006, nearly three weeks after suffering a second stroke. (AP Photo/Chris O'Meara)
** FILE ** Tampa Bay Buccaneers owner Malcolm Glazer celebrates the Bucs' 48-21 victory over the Oakland Raiders in Super Bowl XXXVII in San Diego, in this Jan. 26, 2003 photo. The Tampa Bay Buccaneers owner took control of the world's richest soccer team Manchester United, on Monday, when he increased his stake in the club to more than 75 percent.(AP Photo/Dave Martin)
Tampa Bay Buccaneers owner Malcolm Glazer holds the Vince Lombardi Trophy during a victory celebration at Raymond James Stadium Monday night, Jan. 27, 2003, in Tampa, Fla. The Buccaneers defeated the Oakland Raiders, 48-21, to win Super Bowl XXXVII on Sunday. (AP Photo/Scott Martin)
New Tampa Bay Buccaneers head coach Jon Gruden, second from right, smiles as he stands with, from left, team owner Malcolm Glazer, and executive vice presidents Bryan and Joel Glazer after his first news conference Wednesday afternoon, Feb. 20, 2002, in Tampa, Fla. Gruden comes to Tampa Bay from the Oakland Raiders for a series of draft picks and cash considerations. (AP Photo/Chris O'Meara)
New Tampa Bay Buccaneers head coach Jon Gruden, right, smiles as he stands with team owner Malcolm Glazer after giving his first news conference Wednesday afternoon ,Feb. 20, 2002 in Tampa, Fla. Gruden comes to Tampa Bay from the Oakland Raiders for a series of draft picks and cash considerations. (AP Photo/Chris O'Meara)
Tampa Bay Buccaneers wide receiver Keyshawn Johnson, right, smiles at a press conference with Buccaneers owner Malcolm Glazer Wednesday, April 12, 2000 in Tampa, Fla. Johnson, who was traded by the New York Jets for two first round draft picks, signed an eight-year deal with the Buccaneers worth nearly $7 million a season and recieves a signing bonus of about $13 million. (AP Photo/Scott Martin)
Tampa Bay Buccaneers owner Malcolm Glazer, left, and coach Jon Gruden, holding the NFC championship trophy, greet thousands of fans upon returning to Tampa, Fla., early Monday morning, Jan. 20, 2003, after winning the NFC Championship against the Philadelphia Eagles. (AP Photo/Scott Martin)
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TAMPA, Fla. (AP) - 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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