Gary Neville calls for immediate halt to the Glazers cashing in on Manchester United dividends
Manchester United legend Gary Neville has called on the Glazers to abandon taking dividends from the club.
At the end of June, the Glazers are expected to cash in £11 million in dividends, as they do twice a year.
They are the only club owners in the Premier League to take money out of their club in this manner.
Manchester United are almost £500 million in debt, a figure which rose 11 per cent over the past year, but this is yet to stop them.
Neville calls for halt in Manchester United dividends
Neville has called on the Glazers to halt taking dividends with immediate effect.
While his pleas will likely fall on deaf ears, it is encouraging for a high-profile figure like Neville to call the owners out.
Speaking a year ago, quoted by The MEN, co-owner Joel Glazer defended their stance.
Glazer said: “You know, we’re able to spend with the top clubs throughout Europe, whether it’s wages or transfer fees, we’ve been able to keep our ticket prices low, we’ve not increased them in over 10 years. We’re able to pay a dividend but it’s a modest proportion of our five to six hundred million pounds of revenue; it’s less than three per cent of that.
“We’re able to do all these things and that’s to me the sign of a well-run club. It has never stood in the way of us pursuing players or transfers on the pitch.”
We side with Neville on this one. It appears to be out of pure greed that the Glazers take their dividends. They do not put their own money into the club, instead spending money the club generates itself.
United are currently in a transfer stand-off with Barcelona over Frenkie de Jong, with the Red Devils short of the Spanish side’s valuation of Erik ten Hag’s number one target.
The money due to paid to the Glazers’ could make up this shortfall.
Neville’s point extends to wider infrastructure improvements required for stadium and training ground redevelopments. These will have to be funded through debt.
As he points out, continuing to pay dividends to the Glazers’ is a bad look, and bad business.