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THE BUCS STOP WITH GLAZER
Published January 17, 1995
Malcolm Glazer, the 66-year old Palm Beach financier, reached agreement yesterday with the trustees of the Hugh Culverhouse estate to buy the Buccaneers, according to this morning's ST. PETERSBURG TIMES. The Bucs and Glazer "refused to disclose the price, but said it was the highest ever paid for a sports franchise," surpassing the $185M paid last year of the Eagles. Because he made a "multi-tiered offer," the final purchase price could reach $192M if a new stadium is built in Tampa. There was speculation that Glazer would move the franchise, but he is committed contractually to keeping the team in Tampa for a minimum of two years and said he has no intention of leaving. Glazer: "I sure as heck would rather own a team in Tampa than I would in Baltimore. ... The Buc stops here. Tampa Bay is going to have this team forever as far as the Glazers are concerned." Steve Story, the spokesperson for the three-man trust in charge of selling the team, said the Glazer bid won out over higher offers because of Glazer's commitment to Tampa: "They showed every intent of keeping the team in Tampa. That's been the trust's intent from Day One" (Mark Topkin, ST. PETERSBURG TIMES, 1/17). Jack Donlan, another member of the trust, told the TAMPA TRIBUNE: "We had a lot of guys saying 'Yeah, we'll try to keep it there' or 'We'll see what we can work out'." The move must be approved by NFL owners during their annual meetings in March. Glazer said a new stadium would have to be built, and plans a series of meetings about stadium issues and "improving the community's financial support for the franchise" (Henderson & Pugliese, TAMPA TRIBUNE, 1/17). REAX: Orioles Owner Peter Angelos, who reportedly upped his offer to $211M over the weekend, was "disappointed" and hoped the deal would not be closed (Jon Morgan, Baltimore SUN, 1/17). Angelos said of Glazer's offer: "It would be a mistake to spend that kind of money to keep a team in Tampa" (Joel Poiley, TAMPA TRIBUNE, 1/17). Yankees Owner George Steinbrenner did not comment on the sale, but his hopes of seeing the team stay in Tampa appeared fulfilled.