Manchester United fans are furious with the news emerging that the club has approved shareholder dividends that will pay Malcolm Glazera s six children A?15a million a year.
A day after having announced a A?38m drop (8.8%) drop in the revenue due to absence from Champions League football last season, United have shocked their fans by approving a regular quarterly cash payout of dividend, their first since they floated on the New York Stock Exchange in 2012.
The late Glazera s children own about 80% of more than 160 million shares of Manchester United and each of them will gain 2.5m GBP per year.
The Manchester United Supportera s Trust have heavily criticized the move from the club in a statement. They said:
a Profits from the club should go back into it.a
a The Glazer family have already cost us A?1bn in interest payments. a They are sitting on an asset worth A?2bn, which still has debts of over A?400m, yet are now milking it for even more. How greedy can you get?a
Reacting to the news, United fans expressed their anger on twitter:
The Glazers have cost Man Utd A?1bn in interest payments & now the news comes out that the family will take A?15m a year. Embarrassing.
a Agent Edward (@Agent_Edward) September 18, 2015
So the 6 Glazer children are to benefit from A?15m/year dividend pay outs. What? Haven’t the Glazer’s taken enough out of Utd?
a Richard Keys (@richardajkeys) September 18, 2015
The Glazers leaching money out of United. Shock horror. May they all drop like Malc, the greedy bastards. #LUHG
a StrettyNews.com (@StrettyNews) September 17, 2015
Why are United fans up in arms about the news thr Glazers taking millions out of the club? It’s been happening for years #MUFC
a The United Stand (@UnitedStandMUFC) September 18, 2015
Seriously. A family of four can hardly go to a match these days, but the Glazer’s are taking A?60 million off the top every year
a Broadhurst Blog (@BroadhurstBlog) September 17, 2015 .
The Glazers have been taking money out of our club since they came. I don’t understand why our fans are acting shocked
a All love lost (@1Hard2KillCunt) September 18, 2015
I don’t get the anger about the Glazers getting A?15m every year from Man U. Isn’t it a business they OWN?
a ElektrikBlu (@EuginhoCortez) September 18, 2015
It’s always been just business for the Glazers #mufc
a MT-2096 a (@callme_spits) September 18, 2015