MANCHESTER United fan fury after their horror show defeat by Wolves is set to go through the roof with the Glazer family sharing in a new £11million windfall.
Old Trafford supporters have long accused the club’s US owners of milking United by piling on debt and continuing to plunder its resources for their own personal benefit.
Avram Glazer and his family are set to share an £11million windfallCredit: PA
And that feeling is likely to be extended with the latest cash pay-out to shareholders due on Friday.
United announced in November that the “semi-annual cash dividend of $0.09 per share” – 7p per share in sterling – would be paid on January 7.
The vast majority of that total £11m will go to the six members of the Glazer family who own most of the shares in the club.
It follows a series of dividend payments to the Glazers, including around £23m over the 2019-20 season, while the club’s March accounts revealed debts stood at £455m.
Old Trafford co-chairman Joel Glazer has defended the payments as a “modest proportion” of the club’s revenues.
But with United fans in a frustrated and angry mood after a season of upheaval which has seen three managers – featuring two “interim” bosses including current chief Ralf Rangnick – the confirmation of another cash drain to the owners is likely to add to the irritation.
The net worth of the Glazers, who took control of United in June 2005, is reported to be around £3.4bn according to a Forbes valuation in 2016.
In October last year, the family were reported to have sold £117m worth of shares in the club.
However, they remain the majority shareholders with a 69 per cent stake in the side.
In December the Glazer family bought a cricket team in the United Arab Emirates which will compete in the new UAE Twenty20 League.
The move followed their failed attempt to purchase a franchise in the expanded Indian Premier League with a £400million bid.
It is thought the move is likely to have stirred curiosity as well as concerns amongst Red Devils supporters with some still angered by attempts to have United join the axed European Super League.
The club’s plan to join the much-criticised league sparked protests amongst fans including a group who the exit to the Lowry Hotel whilst players were in the venue.
The Glazers’ ownership has been the focus of some protests led by United fans in 2021Credit: PA