Man United supporters group condemns Glazers to split dividends on £115.5m loss

Manchester United Supporters’ Trust claim the Glazer family are rewarding failure at Old Trafford after participating in a £33.6m dividend paid despite the club announcing a £115.5m loss.

Losses rose by £23m by the end of the year in June 2022, although revenue rose 18 per cent to £583m. In addition, debt rose 22 per cent to £514.9 million.

“United’s financial results today cover a period when the club failed on pitch and finished sixth in the Premier League with our worst points tally in decades,” read a MUST statement.

“Nevertheless, the results confirm that the owners were the only ones in the Premier League to have paid themselves a dividend over the past year.

“In principle, there is nothing wrong with companies paying dividends to owners, but there should be no rewards for failure and we see that here.

“At a football club we believe that dividends should only be paid when there is both financial success and success on the pitch.

“Through the Fans Advisory Board and Fans Forum, MUST representatives will now call for an urgent review of the club’s dividend policy to ensure the rewards for failure we are seeing unveiled today are not repeated.

“Overall, these results reinforce our view that the club urgently needs new capital investment and that the planned refurbishment of the stadium needs to be funded through the re-issuance of shares to bring new funds into the club, rather than more debt that would take a place further strain on the club’s finances.”

https://www.independent.co.uk/sport/football/manchester-united-trust-premier-league-b2173244.html Man United supporters group condemns Glazers to split dividends on £115.5m loss

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