Tampa Bay Buccaneers Under New Ownership
Less than a year ago, Tampa Bay Buccaneers co-owner Joel Glazer announced in a letter on the team website that the Glazer family planned to put the Buccaneers franchise up for sale after the 2018 season.
"I believe that it is time to turn the franchise over to new ownership," Joel Glazer wrote. "Therefore, we will put the team up for sale at the conclusion of this NFL season [2018]. We will not begin the sale process, nor will we entertain any inquiries, until the very last game is played... I hope everyone in this organization, both on and off the field, will be firmly focused on just one mission: to play and win another Super Bowl," Glazer wrote. "While we will no longer be the team owners, Bryan, Edward, and myself, will always be grateful for our time here in Tampa and being a part of this Buccaneers family."
Over the past few months the Glazer family has quietly engaged in conversations with interested parties regarding the Buccaneers franchise. After going through 4 head coaches in 10 years with no playoff births since the 2007 season, the Glazer family felt like it was best to cash in on their assets and move on.
According to sources, Owen Russell has been identified behind the winning bid for the Tampa Bay Buccaneers franchise. The ambitious investor recently finalized the paperwork, which also included selling his 5 percent ownership stake in the Atlanta Falcons. Today, the sale of the franchise to the real estate billionaire becomes official and will be announced on Monday.
Current purchase numbers are unknown, but the Buccaneers have been rumored to be valued at more than $2.4 billion, which would be an NFL record -- quite the increase in value since Malcolm Glazer first bought the franchise for $192 million in 1995. Russell's ability to write a check for the purchase put him ahead of other candidates in the process that began in February.
The Glazer family issued a statement, "We are grateful to the Tampa community for the love and support you have shown your Buccaneers. Your enthusiasm for football and devotion to the team has been a source of strength for us and for everyone who calls Tampa home. We thank all the players who have played during our time here, and we have the highest respect for the men who have worn and will wear the Buccaneers jersey in the future." The Glazers ended their statement wishing Russell "all the best," adding that "the team is in good hands."
Russell now officially takes over the day-to-day operations of the team. Since being unanimously approved by the NFL's owners during the May spring meetings in Atlanta, Russell has met with the coaching staff, team captains and other veteran players, as well as Raymond James Stadium employees on the business side.
Russell, 57, made his fortune in real estate as he began as a property manager then proceeding to work as real estate agent in central Florida. He held other jobs in real estate as an analyst, appraiser, broker, and asset manager. He then worked all over the Southeast as an executive for multiple development organizations before founding Russell Investment Group in Tampa.
Russell also has an interest in the world of golf, co-founding Valley Oaks Golf Club and becoming an early investor of TopGolf.
Those close to him describe him as being a charismatic and inspiring leader. One of the reasons he credits as why he has been so successful is that he always surrounds himself with great people that are highly qualified to do their job.
According to Forbes, Russell has a current net worth of $5.7 billion, which makes him the NFL’s seventh-richest owner.
