Manchester United’s Board of Directors has voted against paying a dividend to the club’s owners, the Glazers, in 2023.
Following the team’s announcement last month that they were open to selling, the controversial Glazer ownership of United has recently reared its controversial head once more.
A statement issued in November confirmed the club and its owners would ‘consider all strategic alternatives’ in the face of ongoing fan pressure for the Glazers to sell up once more, with protests coming and going since their takeover in 2005.
Before the announcement, the Glazers confirmed in a statement on December 8 that they would not be paying a dividend: “On 15 November, the Board of Directors did not approve the payment of the semi-annual dividend for fiscal 2023.”
The majority of United’s Board of Directors are Glazers, with Avram and Joel both holding the titles of ‘Executive Co-Chairman and Director.’ The club’s Directors are Kevin, Bryan, and Edward, all siblings of Joel and Avram.
According to The Athletic, the decision was made for economic reasons, given the club’s £200 million investment this summer.
The decision is the first time the Glazer family has not taken dividends from the club since 2016, fueling speculation that a sale is imminent, with the Raine Group – who facilitated Chelsea’s 2022 sale – acting as United’s ‘exclusive financial advisor’ while they explore a potential sale.