Manchester United Board of Directors block 2023 dividends payment

Manchester United’s Board of Directors did not approve a dividends payment to the club’s owners, the Glazers, scheduled for 2023.

The controversial Glazer ownership of United has reared its head once again in recent times following last month’s announcement from the club itself confirming that they were open to a sale.

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A statement released in November confirmed the club and its owners would ‘consider all strategic alternatives’ amid sustained pressure from fans for the Glazers to sell up once more, with protests coming and going since their takeover in 2005.

It was confirmed in a statement on December 8 that the Glazers would not be taking out a dividend payment, before that announcement was made: “On 15 November, the Board of Directors did not approve the payment of the semi-annual dividend for fiscal 2023.”

United’s Board of Directors is comprised mostly of Glazers, with Avram and Joel both holding titles of ‘Executive Co-Chairman and Director’. Kevin, Bryan and Edward – all siblings of Joel and Avram – are listed as Directors for the club.

The Athletic report that the decision is an economic one, considering the investment into the team this past summer which was in excess of £200m.

The decision marks the first time since 2016 that the Glazer family haven’t taken dividends out of the club and further fuels speculation that a sale could be imminent, with the Raine Group – who facilitated the 2022 sale of Chelsea – acting as United’s ‘exclusive financial advisor’ while they explore a potential sale.

Source of the article

Author: XenBet

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