Gary Neville has ordered the Glazer family to decline the £11million windfall set to come their way from dividends and reinvest the money into Manchester United.
The Red Devils endured a dismal campaign last season which saw Ole Gunner Solskjaer sacked and his successor Ralf Rangnick fail to inspire a turnaround as the club managed a mere 58 points - United's lowest tally in the Premier League era. Despite yet more misery on the pitch, United's shareholders stand to earn sizeable payouts after the club reported its position in the third quarter of the financial year last month.
Those payouts include the Glazers pocketing a mammoth £11m in dividends despite United's debts rising and transfer spending this summer expecting to be cautious. And it's fair to say Neville is less than impressed by the thought of the club's American owners boosting their bank accounts this week.
Blasting the Glazers over their impending bonuses, the former United full-back tweeted: "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 three years minimum."
United's financial report revealed last month that the club’s net debt had increased by £52m - the equivalent of 11 per cent - to £496m. Overall, the club's total debt amassed now stands at a seismic £591m.
What do you think the Glazers should do with the £11million dividends they are set to receive this week? Let us know in the comments below!
The report read: "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 dividend has been paid out to shareholders every six months since 2016 and continued throughout the Covid pandemic.
Neville's stern message to the Glazers comes just a day after footage emerged online of United chief executive Richard Arnold expressing his disbelief at where the club's funds had been directed in recent years. Arnold slammed United's spending during a meeting with a group of the disgruntled fans at a local pub.
The Red Devils chief said: “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.
“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.”
