The Glazer household have not taken a dividend from Manchester United for the FIRST TIME since 2016

Manchester United‘s first quarter monetary outcomes that had been launched on Thursday present that the Glazer household haven’t taken a dividend for the primary time since 2016 after placing the membership up on the market. 

The house owners had been criticised for taking an £11million dividend out of the membership in June, however the board of administrators didn’t approve the newest semi-annual cost to shareholders.

The figures present that United’s revenues rose by 13.6 per cent and the membership is on track to make between £590m and £610m for the entire yr, though it has made a pre-tax lack of £2.5m-a-week for the primary quarter of 2022-23.

Manchester United Supporters Belief welcomed the information in an announcement on Thursday night.

They stated: ‘Tonight Manchester United introduced, as a part of the quarterly earnings report, that in a break with established precedent, it is not going to be paying a dividend to shareholders for the primary time since dividends commenced in 2015.

‘MUST has raised the difficulty of dividends, on the highest ranges of the membership, and more and more so in latest occasions.

‘Certainly the Fan Advisory Board on which MUST holds two locations was arrange particularly to facilitate open dialogue on strategic points resembling this. The MUST consultant on the Followers Discussion board additionally raised objections to the dividend coverage in its most up-to-date assembly as recorded within the minutes right here

United’s first quarter monetary outcomes additionally revealed the membership’s revenues rose by 13.6 per cent

‘We’re glad that, whereas the dividend problem has dragged on for a lot too lengthy, we now have lastly received to the precise place.

‘Actually dividends shouldn’t be paid when the soccer membership is just not attaining success on the pitch, difficult for high honours. That’s rewarding failure and removes the motivation for the house owners to make sure adequate reinvestment of income again into the soccer membership.

‘Our view is that no additional dividends ought to be paid whereas new funding and possession stay unresolved.

‘Progress on points like this may be gradual, as we noticed with the elimination of the obligatory Computerized Cup Scheme or the set up of protected standing/rail seats, to cite two different examples in recent times. Nevertheless it demonstrates that direct dialogue with the membership does ship outcomes, if we’re sufficiently persistent. You possibly can say it pays dividends ultimately.’

 

The Glazers’ highly-controversial 17-year reign has been marred by protests from United followers

United’s much-hated American house owners have been a supply of competition at Previous Trafford ever since they grew to become majority house owners in 2005, dealing with vital fan anger and backlash.

After taking up the membership by means of a leveraged £790million buyout which heaped an enormous debt on United, together with inserting £525million value of loans onto the model of the membership, they racked up United’s money owed to £495m by the tip of 2021. 

Their failed try and kickstart the European Tremendous League solely fuelled extra fan protests exterior the partitions of Previous Trafford. 

They’ve come below stress from fan teams for a while to finish their 17-year reign with the household saying final month they’re open to promoting the membership.

United confirmed the sensational information that the world’s greatest soccer workforce is successfully on the market and that the Glazers can be keen to hearken to presents in extra of £5billion. 

The Raine Group and Rothschild and Co had been appointed as unique monetary advisors to supervise the method. United stated the method of a sale was designed to reinforce future progress, however added that the membership ‘will think about all strategic options, together with new funding into the membership, a sale, or different transactions’.

The American house owners of Man United introduced final month they had been open to promoting the membership

Their reign has been dominated by a decline in United’s on-pitch efficiency and success

An announcement from co-chairmen Avram and Joel Glazer on the time learn: ‘The energy of Manchester United rests on the eagerness and loyalty of our world group of 1.1bn followers and followers.

‘As we search to proceed constructing on the membership’s historical past of success, the board has authorised a radical analysis of strategic options.

‘We’ll consider all choices to make sure that we finest serve our followers and that Manchester United maximizes the numerous progress alternatives accessible to the membership at present and sooner or later.’

The People revealed final month that they might promote the membership for at least £5billion. By comparability, Chelsea’s Todd Boehly-led consortium took over at Stamford Bridge final summer time for £4.25bn. 

Total, the Glazers have taken greater than £1bn out of United within the type of dividends, pursuits, prices and charges throughout their 17-year-reign, which has been dominated by a decline in on-pitch efficiency and success.

The Crimson Devils have no longer received the Premier League for nearly 10 years, whereas they’ve failed to complete within the high 4 in 5 of the previous 9 seasons.