Pope Celestine III supported this, as did Archbishop of Canterbury Hubert Walter. Dioceses and monasteries were different species, however, and the monks of Glastonbury did not want a bishop making decisions for them. King John may have been all right with this, but before long he was no longer on the throne: Richard was released (thanks to Celestine excommunicating Leopold for interfering with a Crusader), and supported the monks. Richard let them choose their own abbot instead of FitzGeldewin. They chose William Pica.
Then Richard died in 1199, John became rightful king, Bishop FitzGeldewin forced his way into the abbey, set himself up there as the seat of his bishopric, and excommunicated William Pica. The monks sent word to the pope, who at this time was now Innocent III. Pica also headed to Rome to appeal to the pope, but died in 1200. For some reason Innocent changed his mind and reinstated FitzGeldewin.
FitzGeldewin, happy with his successful power play, tried to assume control of other monasteries, but died soon. His successors used the title "Bishop of Bath and Glastonbury" until 1219.
As for being the "richest abbey," only Westminster was wealthier. The magnificence of Glastonbury is attested to by the ruins of the Abbot's Kitchen: the kitchen was obviously enormous, needing to serve a large community. The ability to do so meant they also had enormous stores of food.
So what happened? Well, Henry VIII happened. Tomorrow I'll tell you about Richard Whiting, the last abbot of Glastonbury, who thought that loyalty between a subject and a king would go both ways.
He was wrong.
*If you were looking for a Christmas-themed post, try 2022 or 2018 or 2015 or 2013 or 2012.

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