Manchester United to pay Glazer family £18.3m dividend this year

The six Glazer siblings who own the majority of Manchester United will be paid £18m as a dividend by the club this year, following £15m last year, according to their latest financial statements. The accounts for the three months to 31 March of Manchester United plc confirm the dividend, an annual 18 cents on each share owned, will be paid again in 2016-17.

The five sons and one daughter of the late Malcolm Glazer, who bought United with £525m of borrowed money in 2005 and loaded that debt and interest on to the club to repay, own 131m shares, a club spokesman confirmed. The dividend of 18 cents adds up to $23.58m payable to the family which, due to the fall in the value of the pound against the dollar following the referendum vote for Brexit last year, is worth £18.3m. That makes a total of £33m that the family members will have shared in the two years since the dividend was first announced in September 2015.

The strength of the dollar had a negative effect on the debt position of Manchester United plc, which is registered in the Cayman Islands tax haven and floated on the New York stock exchange (NYSE). The club’s net debt, still the original Glazer borrowings plus interest, bank charges and professional fees which have cost United more than £700m in the 12 years since the takeover, increased £17.6m last year to £366.3m. The United plc statement to the NYSE said this was entirely due to the fall in the value of the pound, and the actual dollar amount owing remains unchanged.

United, who are sixth in the Premier League but have reached the Europa League final against Ajax, made £127.2m in the quarter, and have increased their projected income over the 2016-17 financial year to £560m-£570m, despite no income from the Champions League this season. The bulk of the enhanced income from 2015-16 is in broadcasting money earned from the Premier League’s new £8.3bn TV deals for the three years from 2016-17, of which United earned £113m in the nine months to 31 March, £20m more than the same period last year.

Despite that increase, United declared a loss over the period, of £3.8m, with total expenses up £27.6m, including a £10.3m, 18.3% increase in the wage bill to £66.5m for the quarter. United’s spokesman declined to comment on the £18m dividend payable to the Glazers.

The United executive vice-chairman, Ed Woodward, said: “As we near the end of the season, I am delighted we have picked up two trophies [the Community Shield and the League Cup] and look forward to competing for a third in the Europa League final, the only trophy we have never won.

“We are forecasting better full year financial performance than expected and as such have raised our revenue and profit guidance. We look forward to a strong finish to 2016-17 on and off the pitch.”

José Mourinho is giving his players days off on an “à la carte” basis as he looks to keep the squad fresh for the Europa League final in Stockholm. United travel to Southampton for Wednesday’s penultimate Premier League game with Paul Pogba to miss the game because of his father’s funeral. Mourinho also has four long-term absentees owing to injury: Marcos Rojo, Zlatan Ibrahimovic, Ashley Young and Luke Shaw. Timothy Fosu-Mensah is battling to be fit for the final following a dislocated shoulder.

Regarding resting players before the final, which if won also awards Champions League qualification, Mourinho said: “It’s all so difficult. I am giving one-day holiday, à la carte, if you understand what I mean. Monday Daley Blind, one day off, Monday Henrikh Mkhitaryan one day off. Ander Herrera one day off. But the guys who played 90 minutes [in Sunday’s 2-1 loss at Tottenham Hotspur] I cannot give one day off if I want them to play against Southampton.

“It is à la carte and trying to have the people the best they can be. So this is a period in one week when I have to give one day off and now I give a day off to Antonio Valencia. It has to be. And against Crystal Palace [the final game] two or three more and against Southampton two or three more and that’s to try to arrive in the final in the best possible conditions.”

Pogba may return for the visit of Palace on Sunday, though the decision is being left to the midfielder. Mourinho said: “I don’t think Paul has the conditions to play. We have left him completely free to be back when he thinks he’s ready.”

Mourinho had previously confirmed that Sergio Romero will retain his regular Europa League starting berth against Ajax. The Argentinian will also play in one of the final two league outings.

“Now we need everybody,” Mourinho said. “Fosu-Mensah is the only one who has a little chance to be ready for the final and even this kid is trying everything to be fit because the others are impossible. What I want from the last two league games from the players is a good attitude, a positive approach and team spirit. An understanding that some guys have to sacrifice themselves for the good of others.

“A final is a final and we have to go to the final with everything like Ajax does because they have finished the season and they do not have any more football to play until the final.”

Mourinho was impressed with Anthony Martial in the defeat at Spurs. “Yes, he was good. He was OK against Arsenal – against Celta he didn’t play because the options were different but he’s fine, he’s fine and he’s one of the guys for who it’s very important to play 90 minutes,” said the manager. “Chris Smalling, Phil Jones, Juan Mata, it’s very important for them to play 90 minutes.”