Manchester United’s homeowners have now not taken their semi-annual dividend for fiscal 12 months 2023, in step with the Premier League membership’s quarterly monetary stories.
The choice preceded the Glazer circle of relatives’s fresh announcement that it will imagine placing the membership up on the market.
Dividends amounting to $44 million have been paid to the Glazers and different shareholders within the prior fiscal 12 months.
United’s first-quarter fiscal 2023 effects mentioned that the board of administrators on Nov. 15 “did not approve the payment of the semi-annual dividend for fiscal 2023.”
Every week later, United stated the Glazer circle of relatives was once exploring out of doors investment to give a boost to expansion — a transfer that might pave easy methods 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 similar day it parted tactics with Cristiano Ronaldo.
Supporters have long-campaigned to power out the American circle of relatives, which additionally owns the NFL’s Tampa Bay Buccaneers. The Glazer circle of relatives 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 amenities and feature presided over years of failure by way of England’s largest workforce.
The Manchester United Supporters’ Trust welcomed the verdict to not pay dividends.
“Certainly dividends should not be paid when the football club is not achieving success on the pitch, challenging for top honours,” the group stated in a observation Thursday. “That is rewarding failure and removes the incentive for the owners to ensure sufficient reinvestment of profits back into the football club.”