Malcolm Glazer dead: Billionaire's passing is a minor jolt in Manchester United's world

Glazer, a self-made billionaire who also owns the American Football team the Tampa Bay Buccaneers, passed away after a long period of ill health

The future of Manchester United will remain secure – or as robust as it could be given the upheaval and under-performance of last season – despite the death of the club’s owner, Malcolm Glazer, at the age of 85.

Glazer, a self-made billionaire who also owns the American Football team the Tampa Bay Buccaneers, passed away after a long period of ill health, following two strokes which left him with impaired speech and limited mobility in his right arm and leg.

United’s summer was destined to be one of transition, with Louis van Gaal to come in as manager after the World Cup, with the Dutchman clutching a transfer wish-list as part of his aspirations of getting United back in to the European elite.

But Glazer’s death will not change matters, as his health problems and age had meant his day-to-day involvement in the club was minimal. He was not on the board of directors. His sons Joel and Avram are co-chairmen at Manchester United, while his other children Kevin, Bryan, Darcie and Edward are directors.

The family own 90 per cent of the club, with the remaining 10 per cent having been floated on the New York Stock Exchange.

A spokeswoman at Old Trafford said: “The thoughts of everyone at United are with the family tonight.”

Glazer took over United in 2005 to bitter opposition from the club’s fans, who opposed the amount of debt the club had taken on. Around £660 million in debt was taken on by United resulting from the Glazers’ efforts to finance their takeover of the club, amounting to annual interest payments in the tens of millions.

At the time fans were furious and the schism led to the formation of the non-League club FC United of Manchester. A Manchester United Supporters Trust spokesman said at the time: “The amount of money needed to be repaid overall is huge. The interest payment is one thing but what about the actual £660 million? It is difficult to see how these sums can be reached without significant increases in ticket prices, which, as we always suspected, means the fans will effectively be paying for someone to borrow money to own their club.”

In 2010, with concerns that the club’s fate was out of the fans’ hands, there was talk that a takeover bid would be launched, but it never came to fruition.

While there were concerns over the financial health of the club off the pitch – worries which in some quarters continue to this day – on the pitch the success to which United’s fans were accustomed to did not abate; since the Glazers have been charge, United have won five Premier League titles and three League Cups, as well as beating Chelsea in the Champions League final in Moscow in 2008.

Tampa Bay also issued a statement following his death, paying tribute to their owner and president. The statement said he was a “pioneering thinker” and “dynamic business leader”.

He bought the American club in 1995, paying a then-record $192m (£115m) for one of the least successful outfits in the National Football League. They went on to win seven play-off berths, five play-off victories and a Super Bowl title 12 years ago.

Glazer was born in Rochester, New York, in 1928. He began working for the family business selling watch parts when he was eight and took over the operation as a teenager. 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 and natural gas and oil production. In March 2010, Forbes ranked him as tied for the world’s 400th richest person with $2.4bn.

Suggested Topics
News
people
Arts and Entertainment
Lena Dunham
booksLena Dunham's memoirs - written at the age of 28 - are honest to the point of making you squirm
News
Jacqueline Bisset has claimed that young women today are obsessed with being 'hot', rather than 'charming', 'romantic' or 'beautiful'
people
Arts and Entertainment
A bit rich: Maggie Smith in Downton Abbey
tvDownton Abbey review: It's six months since we last caught up with the Crawley clan
PROMOTED VIDEO
Have you tried new the Independent Digital Edition apps?
Sport
Frank Lampard and his non-celebration
premier leagueManchester City vs Chelsea match report from the Etihad Stadium
Life and Style
A new app has been launched that enables people to have a cuddle from a stranger
techNew app offers 'PG alternative' to dating services like Tinder
Arts and Entertainment
Jake Quickenden sings his heart out in his second audition
tvX Factor: How did the Jakes - and Charlie Martinez - fare?
Sport
premier league
Arts and Entertainment
'New Tricks' star Dennis Waterman is departing from the show after he completes filming on two more episodes
tvOnly remaining original cast-member to leave crime series
Sport
Mario Balotelli celebrates his first Liverpool goal
premier leagueLiverpool striker expressed his opinion about the 5-3 thriller with Leicester - then this happened
News
Britain's shadow chancellor Ed Balls (L) challenges reporter Rob Merrick for the ball during the Labour Party versus the media soccer match,
peopleReporter left bleeding after tackle from shadow Chancellor in annual political football match
Arts and Entertainment
Female fans want more explicit male sex in Game of Thrones, George R R Martin says
tvSpoiler warning: Star of George RR Martin's hit series says viewers have 'not seen the last' of him/her
News
i100
News
i100
Sport
Plenty to ponder: Amir Khan has had repeated problems with US immigration because of his Muslim faith and now American television may shun him
boxing
Caption competition
Caption competition
Latest stories from i100
Have you tried new the Independent Digital Edition apps?

Bleacher Report

Daily Quiz
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

Day In a Page

A roller-coaster tale from the 'voice of a generation'

Not That Kind of Girl:

A roller-coaster tale from 'voice of a generation' Lena Dunham
London is not bedlam or a cradle of vice. In fact it, as much as anywhere, deserves independence

London is not bedlam or a cradle of vice

In fact it, as much as anywhere, deserves independence
Vivienne Westwood 'didn’t want' relationship with Malcolm McLaren

Vivienne Westwood 'didn’t want' relationship with McLaren

Designer 'felt pressured' into going out with Sex Pistols manager
Jourdan Dunn: Model mother

Model mother

Jordan Dunn became one of the best-paid models in the world
Apple still coolest brand – despite U2 PR disaster

Apple still the coolest brand

Despite PR disaster of free U2 album
Scottish referendum: The Yes vote was the love that dared speak its name, but it was not to be

Despite the result, this is the end of the status quo

Boyd Tonkin on the fall-out from the Scottish referendum
Manolo Blahnik: The high priest of heels talks flats, Englishness, and why he loves Mary Beard

Manolo Blahnik: Flats, Englishness, and Mary Beard

The shoe designer who has been dubbed 'the patron saint of the stiletto'
The Beatles biographer reveals exclusive original manuscripts of some of the best pop songs ever written

Scrambled eggs and LSD

Behind The Beatles' lyrics - thanks to Hunter Davis's original manuscript copies
'Normcore' fashion: Blending in is the new standing out in latest catwalk non-trend

'Normcore': Blending in is the new standing out

Just when fashion was in grave danger of running out of trends, it only went and invented the non-trend. Rebecca Gonsalves investigates
Dance’s new leading ladies fight back: How female vocalists are now writing their own hits

New leading ladies of dance fight back

How female vocalists are now writing their own hits
Mystery of the Ground Zero wedding photo

A shot in the dark

Mystery of the wedding photo from Ground Zero
His life, the universe and everything

His life, the universe and everything

New biography sheds light on comic genius of Douglas Adams
Save us from small screen superheroes

Save us from small screen superheroes

Shows like Agents of S.H.I.E.L.D are little more than marketing tools
Reach for the skies

Reach for the skies

From pools to football pitches, rooftop living is looking up
These are the 12 best hotel spas in the UK

12 best hotel spas in the UK

Some hotels go all out on facilities; others stand out for the sheer quality of treatments