Manchester United’s audited accounts were published overnight, according to football finance expert Kieran Maguire.
From Maguire’s findings we learn that auditors picked up over £1.1m including £446k for tax avoidance advice.
Maguire explains that 75% of Class ‘A’ shares are owned by four investment funds carrying one vote each, while the Glazers own all of the Class ‘B’ shares that carry 10 votes each.
And as of 6 October 2020 Ed Woodward, the club’s executive vice-chairman, owns shares worth £7.8m.
75% of Class ‘A’ shares owned by four investment funds. These carry 1 vote each. Glazers own all of the Class ‘B’ shares that carry 10 votes each. Ed Woodward owns shares worth £7.8 million. pic.twitter.com/uT1WOosX07
— PriceOfFootball (@KieranMaguire) October 24, 2020
Although boardroom pay was £10.5m, the public will not be made aware of who is the highest paid director until UK accounts are published. I’m sure you will all enjoy guessing at who that may be?
The figures were never going to read well but it’s just another alarm call to show how dysfunctional United is under the Glazer ownership.
They put nothing in and take everything out.
This article has nothing to do with manager Ole Gunnar Solskjaer but you can’t help but feel sorry for him having his hands tied. Manchester United could operate so much better.