Manchester United board blocks 2023 payments

Manchester United board blocks 2023 payments

The Board of Directors of Manchester United did not authorize a 2023 dividend payment to the club’s owners, the Glazers.

Manchester United contentious Glazer ownership resurfaced in recent weeks after the club’s admission last month that it was open to a sale.

In a statement made in November, the club and its owners said they would “explore all strategic options” in response to mounting demand from supporters for the Glazers to sell the club, which has been ongoing since their 2005 purchase.

The Glazers did not receive a dividend payment, as verified by a statement released on December 8: “On November 15, the Board of Directors did not authorize the payment of the semi-annual dividend for the fiscal year 2023.”

Avram and Joel Glazer occupy the “Executive Co-Chairman and Director” on the Board of Directors of United. Kevin, Bryan, and Edward, all siblings of Joel and Avram, are mentioned as Club Directors.

The Athletic reports that the decision was made financially, given the team’s spending of almost £200 million during the summer.

The decision marks the first time since 2016 that the Glazer family has not taken dividends from the club and fuels speculation that a sale could be imminent, with the Raine Group – which facilitated the 2022 sale of Chelsea – serving as Manchester United’s “exclusive financial advisor” while they investigate a potential sale.