Manchester United’s homeowners haven’t taken their semi-annual dividend for fiscal yr 2023, in response to the Premier League membership’s quarterly monetary studies.
The choice preceded the Glazer household’s latest announcement that it might think about placing the membership up on the market.
Dividends amounting to $44 million had been paid to the Glazers and different shareholders within the prior monetary yr.
United’s first-quarter fiscal 2023 outcomes said that the board of administrators on Nov. 15 “didn’t approve the fee of the semi-annual dividend for fiscal 2023.”
Every week later, United stated the Glazer household was exploring outdoors funding to boost progress — a transfer that would pave the way in which to a possible buyout.
“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 Nov. 22, the identical day it parted methods with Cristiano Ronaldo.
Supporters have long-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 greatest staff.
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 rewarding failure and removes the incentive for the owners to ensure sufficient reinvestment of profits back into the football club.”