THE Glazer family have taken out £18million in dividends from Manchester United each year since 2016, according to reports.
And a further £5m lines the pockets of other shareholders.
Joel Glazer, centre, and brother Avram, right, are co-chairman of Manchester United Credit: PA
Their ownership has proved incredibly unpopular, especially due to high dividends payments Credit: Getty As reported by The Times, that £23m total was even paid out during the pandemic – despite the club making a financial loss.
The Red Devils owners drew out an £11m cash bonus in January.
That was announced in the wake of a defeat to Wolves, only adding fuel to the anger of protesting supporters whose long wait for a trophy goes on.
United were placed on the New York Stock Exchange in 2012, enabling investors to buy and sell shares in the club, in an attempt to try and tackle mounting debt.
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United hire deputy director of football, Darwin Nunez transfer ‘very close’ Since then, the share price has dropped by almost 10 per cent – or $1.39 (£1.10) from $14 (£11.10) to its current price of $12.61 (£10).
It hit its peak at the end of August 2018 when the price climbed to $26.20 (£20.77).
The Glazers put an extra 9.5m shares totalling £137m on the NYSE last October, months after co-chairman Avram Glazer got rid of £70m worth of shares.
But the unpopular American family, who bought the club in 2005, still hold a combined 69 per cent of the club and therefore retain majority ownership, enabling them to have control over decisions.
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And that also means they dictate where the money is spent.
Co-chairman Joel Glazer boasted last June that United have “the highest net transfer spend in world football over the past five years and one of the highest wage bills”.
However, despite all that spending, the club’s last trophy was way back in 2017 – with their most recent Premier League title four years earlier under Sir Alex Ferguson.
And Joel’s brother Avram appeared to confirm they will splash the cash again this summer to back new boss Erik ten Hag in his first transfer window in charge.
When asked by Sky Sports if the club are able to invest before next season, he replied: “We’ve always spent the money necessary to buy new players.”
Quizzed on the recent season, which saw United flop to their lowest points tally since 1989-90, Glazer added: “I don’t think this is the time to talk about that.”
He then conceded: “It is a disappointing season, it’s been a disappointing season for everyone and we’re going to work hard to make next season a better season.”
Fans have protested regularly against the American family Credit: PA Source: Soccer - thesun.co.uk
