Reward for failure: MUST criticise 'indefensible' £11m Glazer dividend payment
The Manchester United Supporters Trust (MUST) has criticised the ‘totally unacceptable’ state of affairs with the Glazers collecting the majority of an £11 million payment to shareholders, the MEN report.
The bi-annual payment has seen £22 million paid out this year and £122 million alone since 2016.
Manchester United are the only Premier League club to pay dividends to shareholders.
Former United captain Gary Neville called for an ‘immediate halt’ to these payments earlier this week.
Reward for failure
These latest payments are particularly hard to stomach considering Manchester United are coming off the club’s worst ever Premier League season, with the lowest points tally since pre-Sir Alex Ferguson.
A fifth permanent boss of the post-Fergie era has just been appointed, and to top it off, not a single signing has been made this summer.
MUST usually seek a more cordial and conciliatory tone towards the Glazers, believing a dialogue with the owners is the way forward, but their latest statement is unequivocal criticism.
The group describe the payment as ‘totally unacceptable’ and a ‘reward for failure’.
United’s debt is also at record levels, reaching almost £500 million, an increase of 11 per cent on the previous year, the Guardian reported.
Plans to renovate Old Trafford and Carrington would saddle the club with even more debt, rather than come from investment from the Glazers.
Newly formed protest group The 1958 have also expressed anger at the Glazers’ latest dividend payments.