The Glazer family have not taken a dividend out of Manchester United in last financial year but unpopular owners benefitted from share price rise after putting club on the market
- Latest accounts showed £1.75m share options payout after ‘strategic review’
- United’s debt remained unchanged at £538m despite record revenues
- Follow Mail Sport’s new Man United WhatsApp channel for all the breaking news
The Glazer family have not taken a dividend out of Manchester United in the last financial year, according to the club’s latest results.
However, the owners are likely to have benefitted most from a £1.75m share options payout. It followed a share price rise on the back of their strategic review, launched a year ago, amid optimism the club would be sold.
The unpopular American owners have been fiercely criticised in the past for creaming profits off United while failing to reduce the overall debt on the club, which remains unchanged at £538m.
Last year they banked the lion’s share of the £33.5m paid out in dividends to shareholders in 2021-22.
But as the Glazers continue to come under massive scrutiny after turning down an offer of around £5billion to sell United to Sheikh Jassim bin Hamad al Thani in favour of accepting a £1.4bn from Sir Jim Ratcliffe for a quarter of the club, they have decided not to draw a dividend this year.
The Glazer family did not take a dividend out of Manchester United in the last financial year
United fans have protested against the Glazer family’s ownership and £538m worth of debt
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United have paid the controversial dividend since 2015 and remain the only Premier League club to hand out the regular payments to shareholders.
But they indicated last December that there were would be no payments in 2022-23 to allow greater investment in the squad.
United were operating under tighter financial restrictions in the summer due to Financial Fair Play but still spent another £180million under Eric ten Hag.
The investment in Rasmus Hojlund, Mason Mount, Andre Onana, Rasmus Hojlund and Altay Bayindir, with Jonny Evans, Sergio Reguilon and Sofyan Amrabat signed on loan and new contracts handed to Marcus Rashford and Diogo Dalot, contributed to United making an overall loss of £28.7m.
However, the new financial results once again showed why Sheikh Jassim and Ratcliffe were prepared to bid in excess of £5billion for a club worth little more than half that on the New York Stock Exchange.
United announced record full-year revenues of £648.4m despite being in the Europa League last season. It eclipsed the previous best of £627m when the club were in the Champions League.
It’s predicted that United will break the record again next year with estimated revenues of between £650m and £680m on the back of a new 10-year kit deal with adidas and shirt sponsorship with Snapdragon.
Manchester United announced record revenues for the 2022-23 season but the club’s debt remained static at £538million
Sir Jim Ratcliffe is awaiting an answer regarding his £1.4billion offer for 25 per cent of United
Commercial revenues exceeded £300m for the first time at £302.9m, up £45.1m based on a £41.6m increase in sponsorship and £3.5m in retail.
Broadcast revenue was down £5.8m because United were playing in the Europa League rather than the Champions League, although that also meant an automatic pay-cut for the playing squad which saved £52.8m.
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