Manchester United owners criticised for £16m dividend

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Football News

Manchester United's majority shareholders, the Glazer family, will receive a £16 million dividend set up by the club - but have received criticism over the move.

This would be the first dividend from the club since the owners decided to float the club on the stock market in 2012.

The Glazer family control 83% of the Red Devils' shares and would receive precisely £15.79 million per year.


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The United supporters trust vice-chairman Sean Bones, speaking to the BBC, said: "This is rubbing salt into the wound,"

"Profits from the club should go back into it. The Glazer family have already cost us £1bn in interest payments"

"They are sitting on an asset worth £2bn, which still has debts of over £400m, yet are now milking it for even more. How greedy can you get?"

However, United have come back and said the club is going to continue investing in the team, with the club in an even stronger financial position, due to the a predicted £10m saving after the refinancing of the club's debts.

The club have also announced that 24 million of these shares will potentially be sold. 

These 24 million shares would be "Class A" shares which means that ownership of these shares would allow a higher value in decision-making than the equivalent number of "Class B" shares, with the Glazer family sharing all Class B.

Man Utd have also recently announced a £38m fall in total revenue with £35m of all of that due to last year's failure to make the Champions League. 

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