Glazer family’s profile picture

Glazer family

Glazer family’s profile picture
Net worth 2018: $4.2 Billion
Industry: Sports
BIOGRAPHY

Glazer family was born in . After Malcolm Glazer died in May 2014, the family was left without its leader, but still firmly in control of an impressive real estate and global sports empire. The Glazer clan built a commercial real estate fortune through First Allied Corporation, which today owns more than 6.7 million square feet of premium shopping center space across the U. S. What made the Glazers better known, though, was their ownership of sports teams. Malcolm bought the Tampa Bay Buccaneers in 1995 for $192 million; today, the team is worth more than $1.2 billion. In 2006, the family purchased British soccer powerhouse Manchester United for $1.4 billion in a controversial deal. With soccer team valuations ballooning, the Glazers have been selling shares in the historic team, now worth $3.1 billion; the family controls 83% of the voting power in the publicly traded team. The fortune is shared by Malcolm's widow Linda and the couple's six children.

NET WORTH STATISTIC
2010

$2.6 Billion

2011

$2.7 Billion

2012

$3.6 Billion

2013

$4.5 Billion

2014

$4.2 Billion

2018

$4.2 Billion

TIMELINE
2017

The annual interest payable on the bond came to approximately £45 million per annum, with the bond due to mature on 1 February 2017

2015

Contained within the bond prospectus were covenants that would allow the Glazers to filter large sums of money out of the club to repay the PIKs by 2015

2014

) Malcolm Glazer died on 28 May 2014 at the age of 85

2013

The club's debts were further remedied in May 2013, after a new loan deal was agreed that would save the club £10 million a year in interest payments on debts now totalling around £307 million

2012

Club records announced in November 2012 revealed that gross debt had fallen to £359

2011

The Singapore flotation looked to be gaining traction in August 2011, when it emerged that the club had applied to list its shares on the Singapore Exchange; approval for the listing was given in September 2011

2010

Despite these plans, the Red Knights put their takeover bid "on hold" in June 2010, citing "inflated valuation aspirations" in the media as the reason

2009

The Red Knights later admitted that they would not make a bid for the club before the end of the 2009–10 season, but it was believed that their preferred bid option would have involved retaining the £500 million bond issued by the Glazers

2008

To better promote themselves, the Trust enlisted the services of Blue State Digital, the Internet strategy firm that worked on Barack Obama's 2008 presidential election campaign

2006

In 2006, Malcolm Glazer's other two sons, Kevin and Edward, and his daughter, Darcie, were appointed to the Manchester United board as non-executive directors

2005

6 billion would be needed to match the Glazers' valuation of the club – double what they paid for the club in 2005

2004

Their shareholding continued to increase, nearing 30% by October 2004

2003

On 26 September 2003, it was reported that they had increased their share to 3

1999

The Manchester United board accepted a £623 million offer, but the takeover was blocked by the Monopolies and Mergers Commission at the final hurdle in April 1999

1998

They convinced the local government to fund a new stadium for the Buccaneers in 1998 and the franchise won its first Super Bowl in January 2003

1995

The Glazer family already owned several businesses in the United States and had purchased the Tampa Bay Buccaneers National Football League franchise in 1995

1991

Manchester United was floated on the stock market in 1991, and they received yet another takeover bid in 1998, this time from Rupert Murdoch's BSkyB Corporation

1990

The club went public in 1990 and was the subject of takeover bids from property trader Michael Knighton and Rupert Murdoch's BSkyB corporation before Malcolm Glazer's stake was announced in September 2003

1989

In 1989, property magnate Michael Knighton was on the verge of completing a £20 million takeover, but his financial backers pulled out at the last minute and he had to be content with merely a seat on the board

1984

During Martin Edwards' time as chairman, Manchester United was the subject of several takeover bids; the first came from media tycoon Robert Maxwell, who bid £10 million in February 1984, but the sale fell through before any serious talks could take place

1980

His son, Martin Edwards, purchased a percentage of shares from Alan Gibson – son of former owner James Gibson – and became the majority shareholder and chairman when Louis Edwards died in 1980

1965

Meanwhile, a local businessman named Louis Edwards began accruing shares in Manchester United and was eventually made chairman on Hardman's death in 1965

1951

Gibson himself died in 1951, but while ownership of the club passed to his widow, Violet, control of the club passed to director and former player Harold Hardman

1931

The debt taken on by the Glazers to finance the takeover was split between the club and the family; between £265 million and £275 million was secured against Manchester United's assets, putting the club into debt for the first time since James Gibson saved them in 1931

1927

After Davies' death in 1927, the club fell into financial difficulties once again, but James W

1901

In 1901, the club was in over £2,500 of debt and facing a winding-up order; however, they were saved by local brewer John Henry Davies, who changed their name to Manchester United in 1902

1892

The club split from the railway company in 1892 and remained under private ownership for almost 100 years, changing its name to Manchester United after being saved from bankruptcy in 1902

1878

in 1878 by the workers in the Carriage and Wagon Works of the Lancashire and Yorkshire Railway's Newton Heath depot

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