Glazers set to rake in £11million days after defeat by Wolves
The Glazers are once again risking the ire of Manchester United fans as they prepare to bag an £11million windfall just days after their 1-0 defeat at home to Wolves.
United supporters have long called for the unpopular American owners to leave, accusing them of milking the club for their own personal benefit and increasing debt since their arrival in 2005.
Their initial decision to join the aborted European Super League last April also further damaged their reputation, sparking massive protests in and around Old Trafford at the time.
According to The sun, the Glazers risk angering Red Devils fans again with an £11million cash payout to the club’s shareholders due on Friday.
United announced in November that a “semi-annual cash dividend of $0.09 per share” – equivalent to 7 pence per share in sterling would be paid on January 7.
And it is believed that the bulk of that £11 million will go to the six members of the Glazer family, who have a 69 per cent stake in the club.
Their windfall comes just four days after United were outclassed by Wolves at Old Trafford, with Joao Moutinho’s late strike condemning new interim boss Ralf Rangnick to his first loss and denting their top four hopes.
With the team failing to inspire on the pitch, the news that the Glazers have bagged a significant payout is unlikely to sit well with supporters.
The US tycoons also received around £23 million during the 2019/20 campaign, but United’s March bills showed the debt was £455 million.
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Nevertheless, co-chairman Joel Glazer is said to have defended the payments as a “modest part” of the club’s revenue.
The Glazers, who retain control of Old Trafford despite recently selling £117 million worth of shares, are worth £3.4 billion, according to Forbes.