Manchester United’s house owners haven’t taken their semi-annual dividend for the fiscal yr 2023, in response to the Premier League membership’s quarterly monetary studies.
The resolution adopted the Glazer household’s latest announcement that it will think about placing the membership up on the market.
Dividends amounting to USD 44 million had been paid to the Glazers and different shareholders within the earlier monetary yr.
United’s first-quarter fiscal 2023 outcomes acknowledged that the board of administrators on Nov. 15 “did not approve the payment of the semi-annual dividend for fiscal 2023.” Per week later, United stated the Glazer household was exploring outdoors funding to boost development — a transfer that might pave the way in which to a possible buy-out.
“As part of this process, the board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the company,” the membership stated on November 22, the identical day it parted methods with Cristiano Ronaldo.
Supporters have lengthy campaigned to drive out the American household, which additionally owns the NFL’s Tampa Bay Buccaneers. The Glazer household purchased United in 2005 with a leveraged takeover that loaded debt onto the membership.
Critics say the Glazers have failed to take a position sufficient of their very own money within the squad or services and have presided over years of failure by England’s largest group.
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The Manchester United Supporters’ Trust welcomed the choice to not pay dividends.
“Certainly dividends should not be paid when the football club is not achieving success on the pitch, challenging for top honors,” the group stated in a press release Thursday.
“That is a rewarding failure and removes the incentive for the owners to ensure sufficient reinvestment of profits back into the football club.”