Friday, September 18, 2015

Man Utd fans angry with Glazer family


A fans' group has criticised Manchester United's decision to pay majority shareholders the Glazers £16m a year.
Shareholders will receive 0.045 cents (£0.03) per share each quarter, the first dividend since United floated on the US Stock Exchange in 2012.
The Glazer family, which owns 83% of United shares, will receive $24.5m (£15.79m) annually.
"This is rubbing salt into the wound," said Manchester United Supporters' Trust vice-chairman Sean Bones.
"Profits from the club should go back into it."
A United spokesman said the Glazers were committed to investing in the team and that the dividend underlined the club's strong financial position.
United estimate they will save $10m annually in interest payments following a refinancing of their debts this year.
The announcement came on the same day United said they were considering selling a further 24 million "Class A" shares.

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