Malcolm Glazer, pictured above in the Tampa Bay Buccaneers' Super Bowl victory parade in 2003, passed away at 85 on Wednesday. He owned the Bucs and Premier League power Manchester United. (Peter Muhly/AFP/Getty Images)
The NFL's Tampa Bay Buccaneers announced that owner Malcolm Glazer, the American who also owned Manchester United, died early Wednesday morning. Glazer, 85, bought United in 2005.
The press release, published on the NFL franchise’s website, says the team will remain in the family. Manchester United has not released a statement on Glazer’s death yet, but it should not affect the club's ownership, as 90 percent of its shares is similarly divided among Glazer's children.
“Mr. Glazer’s long-established estate-succession plan has assured the Buccaneers will remain with the Glazer family for generations to come,” the statement reads. “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.”
Since Glazer’s purchase, United has won five Premier League titles and one Champions League. However, the acquisition has come under heavy scrutiny for the amount of debt it has incurred for the club.
In 2010, a group of United supporters called the “Red Knights” plotted a takeover bid of nearly £1 billion, but the Glazers refused to sell despite the club slipping from being the most valuable brand in world football to No. 3 in the table behind Real Madrid and Bayern Munich.
Glazer was one of seven children in his family, born in Rochester, N.Y. At the time of his death, Glazer was a resident of Palm Beach, Fla., and had six children and 14 grandchildren.