Man u owner Malcolm Glazer dies at 85

Malcolm Glazer, the controversial American owner of Premier League giants Manchester United, died Wednesday. He was 85. Glazer, the son of a Lithuanian immigrant who went on to build an diverse business empire, gained a global profile through his ownership of United, one of the world’s biggest and best supported football clubs.

But he was deeply unpopular with hardcore United fans after loading the club with hundreds of millions of dollars in debt following a 2005 buyout. His death was announced on the website of the Tampa Bay Buccaneers American football team, one of his other sports franchises. Under Glazer’s stewardship of the Buccaneers, the NFL team enjoyed its first Super Bowl success in 2002.

Shares of Manchester United slipped sharply on the New York Stock Exchange after Glazer’s death was announced but finished the day unchanged in thin trade at $16.30. Glazer’s death is not expected to have any bearing on the ownership of the club, with his family retaining a 90 percent holding in United.

His sons Joel and Avram Glazer continue to serve as co-chairmen of the club. Another son, Bryan, remains on the United board. ‘The thoughts of everyone at Manchester United are with his family tonight,’ the Premier League club said Wednesday. 

Glazer’s 2005 takeover of United in a leveraged $1.2 billion buyout triggered widespread protests amongst the club’s fans. Although Glazer’s reign coincided with a glut of silverware, including five Premier League crowns and the 2008 Champions League title, he remained a hate figure for many supporters. 

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Agencies