Man United fan group condemn Glazers splitting dividend amid £115.5m loss

Published by
Peter Kavinsky

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Manchester United Supporters’ Trust claim Glazer family reward failure at Old Trafford after splitting £33.6m dividend paid despite club announcing £115.5m loss sterling.

Losses rose by £23m for the year to June 2022 despite an 18% increase in revenue to £583m. In addition, debt increased by 22% to £514.9m.

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

“Despite this, the results confirm that the owners were the only ones in the Premier League to pay themselves a dividend last year.

“There’s nothing wrong in principle with companies paying dividends to owners, but there shouldn’t be any rewards for failure and that’s what we see here.

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

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

“Overall, this set of results reinforces our view that the club is in dire need of new capital investment and the proposed stadium redevelopment should be funded through a new equity issue to bring new funds to the club. club and not by additional debt which would place an additional drain on the club’s finances.

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Peter Kavinsky

Peter Kavinsky is the Executive Editor at cablefreetv.org

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