According to a number of US media reports Glazer's purchase of the Los Angeles Dodgers from Rupert Murdoch's News Corp. would be at a price of $400-$500million.
This deal would include the franchise, Dodger Stadium and spring training facilities with Glazer taking control at the end of the current baseball season.
It is believed that an agreement has been reached in principal with the Buccaneers owner but is contingent on approval from NFL.
The deal is reported to be a complicated one due to the sensitive nature of cross ownership.
The NFL prohibits owners from purchasing another franchise in professional baseball, basketball or hockey, but the league has made an exception if the franchises are in the same city.
There is speculation that Glazer might agree to sell the Tampa Bay Buccaneers for rights to a future NFL franchise in Los Angeles.
Malcolm Glazer, the owner of NFL team the Tampa Bay Buccaneers, is believed to have sealed a deal to buy Major League Baseball franchise the Los Angeles Dodgers.
