Manchester United financial results have been released, Business Wire reports.

Unfortunately, there isn’t really anything positive for United. Supporters are more angry than encouraged.

The club’s net debt is now £ 443 million. It’s an astonishing number, up from £ 429 million in March 2020.

United owners, the Glazers, will continue to benefit and collect £ 8 million in dividends from a total payout of £ 10.7 million to the club’s shareholders.

Various numbers in @ ManUtd results including a dividend payment of nine cents per share = £ 10.7 million. The Glazer family owns around 75% of the shares, or £ 8.025 million. Joel Glazer defended dividends at the Fans Forum.

– Simon Stone (@ sistoney67) June 17, 2021

A look at what Joel Glazer said …

Speaking at the recent fan forum, Joel Glazer claimed the club’s debts were not having a negative impact on a daily basis.

He said: “There are always headlines” [for the debt], and then there is
the real cost on an annual basis and again, it has never affected us
Ability to operate in the transfer market or do something else with it
Consideration for the club. “

Unfortunately, the debt ratio is rising, not falling, and there is no current plan to reverse that trend.

(Photo by Laurence Griffiths / Getty Images)

As for the dividend, Glazer bypassed it and responded, “We don’t take salaries, management fees or anything.

“Every time something like this happens, it has to be reported. You know, as a public company, we are subject to more disclosure and information than likely any other club. We have to report quarterly. We have strict, strict rules, so there are no other areas where we get money. “

Glazer also pledged investments in Old Trafford, Carrington Training Grounds and in the squad.

Currently, fans are waiting for specific details for all of these. No players have been signed in the transfer window. United is haggling with Borussia Dortmund over a transfer fee for Jadon Sancho. The availability of the £ 10.7 million paid to shareholders would come in handy in these negotiations.

United also stated in the financial results that a new “Theater Of Dreams Experience” has opened in Beijing, China. This opened in May and the club is hoping it can be a money spinner.

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