According to United’s first-quarter fiscal 2023 statistics, the board of directors decided on Nov “did not consent to paying the semi-annual dividend for the 2023 fiscal year.
According to the Premier League club’s quarterly financial filings, Manchester United’s owners have not yet received their semi-annual dividend for the fiscal year 2023.
The choice was made before the Glazer family recently disclosed that it would think about selling the club.
The Glazers and other shareholders received dividend payments totaling $44 million in the previous fiscal year.
According to United’s first-quarter fiscal 2023 statistics, the board of directors decided on Nov “did not consent to paying the semi-annual dividend for the 2023 fiscal year.
The Glazer family was looking into outside capital to boost expansion, according to United, which may open the door to a prospective purchase. This was announced a week later.
The club stated on Nov. 22, the day it cut ties with Cristiano Ronaldo, that “as part of this process, the board will explore all strategic alternatives, including additional investment into the club, a sale, or other transactions involving the company.”
The American family, who also owns the NFL team Tampa Bay Buccaneers, has been the target of a long-running campaign by opponents. In 2005, the Glazer family acquired United through a leveraged acquisition that added debt to the team.
Critics assert that the Glazers have presided over years of England’s most successful team’s failure because they haven’t put enough of their own money into the team or the facilities.
The decision to forgo dividend payments was applauded by the Manchester United Supporters’ Trust.
In a statement released on Thursday, the organization stated that “clearly dividends should not be paid when the football club is not achieving success on the pitch, challenging for top honors.” “That is rewarding failure and takes away the owners’ incentive to make sure that enough profits are reinvested back into the football team.”
