Gary Neville tells Glazer family to turn down £11m dividends for three reasons

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Gary Neville has urged the Glazer family to turn down the £11million dividend they are set to receive this week. It has been a dreadful year for Manchester United, the club the Americans own, having missed out on qualification for the Champions League.

Despite presiding over rising debts and an awful campaign that resulted in the sacking of Ole Gunnar Solskjaer and the departure of Ralf Rangnick, United’s shareholders will receive a boost to their bank accounts. As they reported their position for the third quarter of the financial year in May, United revealed the level of dividend they would be handing out.

“The bi-annual cash dividend of $0.09 per share will be paid on 24 June 2022, to shareholders of record on 6 June 2022,” the report said. The dividend has been paid out to shareholders every six months since 2016, including during the Covid-19 pandemic.

That dividend is due to be paid out on Friday, with the Glazers pocketing £11m due to their level of their shareholding. But Red Devils legend Neville has now urged the Americans to turn down that money due to the transfer investment needed, upgrades to the stadium and a revamp of the training ground.

“The Glazer Family should NOT be taking £11m in dividends this Friday. It isn’t right with the investment needed in the team,stadium and training ground. The clubs cash position is low compared to previous years. An announcement is needed to halt it for the next 3 years minimum,” Neville tweeted.

United chief executive Richard Arnold admitted to being unhappy with where the club’s funds had been directed over the weekend. Arnold had met with a group of disgruntled fans in a local pub when he slammed the spending of recent years.

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“We spent a billion pounds on players. We have spent more than anyone in Europe. I’m not thrilled where we are. It doesn’t sit easy with me and I worry how we get this sorted for the future. What’s happened is we have f***ing burned through cash. You can’t go to our training ground and say ‘show me where the £1billion is because we haven’t spent money well historically,” he said.

“For the future, for investing in a new stadium and a latest-and-greatest training ground we’ve got to do something. We’ve got to get investors in. I need that to do what I want for the club. I’ve got to have more cash now because no club in the world has the money to build a new stadium. You either borrow it or invest it. The money has got to come from somewhere.”

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