We are still eagerly waiting for updates on the sale Manchester United.
It has been three weeks since the Glazer family announced their plans to sell Manchester United. Their statement sent shockwaves around the world of sport and business.
We can only imagine that The Raine Group, an investment firm acting as the club’s exclusive financial advisor, will want to keep everything private at these early stages.
However, in a new report from The Athletic, Laurie Whitwell and co lift the lid on Joel and Avram Glazer’s failed attempt to try and buy out their siblings last summer.
It is suggested that the two brothers felt buying out Edward, Kevin, Bryan and Darcie would allow them to run the club in a more ‘unified, streamlined manner’.
Although this didn’t happen, it has been known for some time that Joel and Avram held the most interest in owning the club — while they all benefited financially. Their interest evolved around the money they could make out of United rather than ensuring that the football club was run properly.
In other words, no care but lots of greed.
Glazers will not take semi-annual dividend
A week before confirming they were considering putting the club up for sale, the Glazers decided not to take their semi-annual dividend.
The Manchester United Supporters’ Trust reacted to the news positively.
A statement read: “We are glad that, while the dividend issue has dragged on for far too long, we have finally got to the right position.
“Certainly dividends should not be paid when the football club is not achieving success on the pitch, challenging for top honours. That is rewarding failure and removes the incentive for the owners to ensure sufficient reinvestment of profits back into the football club.
“Our view is that no further dividends should be paid while new investment and ownership remain unresolved.”