Manchester United owners will not take semi-annual dividend
The decision was taken shortly before the Glazer family confirmed they were considering putting the club up for sale.
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Manchester United’s owners have not taken their semi-annual dividend, it has been announced in the quarterly financial reports.
The decision was taken just a week before the Glazer family confirmed they were considering putting the club up for sale last month.
United’s first quarter fiscal 2023 results state: “On November 15, the board of directors did not approve the payment of the semi-annual dividend for fiscal 2023.”
On November 22, the day United parted company with Cristiano Ronaldo, it was announced that “a process to explore strategic alternatives to enhance future growth” had begun.
The statement added that “the board will consider all options, including new investment into the club, a sale, or other transactions.”
The Manchester United Supporters’ Trust reacted to the news positively.
A statement read: “We are glad that, while the dividend issue has dragged on for far too long, we have finally got to the right position.
“Certainly dividends should not be paid when the football club is not achieving success on the pitch, challenging for top honours.
“That is rewarding failure and removes the incentive for the owners to ensure sufficient reinvestment of profits back into the football club.
“Our view is that no further dividends should be paid while new investment and ownership remain unresolved.”
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments