The Manchester United Supporters’ Trust is demanding an ‘urgent review’ into the Glazers taking dividends from the club.
BBC Sport report United have registered £115 million losses for the 2021/22 season, the club’s worst Premier League season.
In light of failure off and on the pitch, MUST state that the already controversial policy of taking dividends is even more unacceptable.
The Athletic report shareholders have taken £33.6 million in dividends over the past year, collecting an extra sum after deferring a payment during the pandemic.
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£33.6m Glazer dividends
No other Premier League club has owners which take dividends. The Glazers at Manchester United are the only ones.
MUST released a statement in reaction to the news, commenting: “MUST representatives will now be calling for an urgent review of the club dividend policy to ensure that the rewards for failure we see revealed today are not repeated.”
The Trust added: “Dividends should only be paid when there is both financial success and success on the field. Paper profits should not be enough – especially as they can potentially result from under-investment in the playing side, harming results on the pitch which ought to be the very purpose of the club.”
Joel Glazer defended dividends
Joel Glazer defended the dividends at a fan forum in 2021. He said: “We don’t take any salaries, any management fees, anything else.
“Any time that type of thing happens, it has to be reported. You know, being a public company, we’re subject to more disclosure and more information than probably any other club. We have to report quarterly. We’re under strict, strict rules, so there’s no other areas that we are being paid money.”
United fans meanwhile have become increasingly restless over the past 12 months, with poor performances on the pitch further exposing the Glazer ownership.
MUST added a further warning that the club must not be plunged into further debt to finance a planned stadium rebuild.
They said: “The club is in dire need of new capital investment and the proposed stadium redevelopment must be funded through new issuance of shares to bring new funds into the club and not via more debt which would place a further drain on club finances.”
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