Former Manchester United defender Gary Neville has criticized club owners the Glazer family for their decision to take £11 million out of the Old Trafford side as dividends this Friday.
The pundit claims the move to do so ‘isn’t right as the Premier League club are not in the right position financially.
Man United revealed their financial results recently, with the numbers showing that the club shareholders are in line to earn significant payouts. But Neville wants the Glazers to ignore the financial windfall set to come their way and reinvest it back into the team.
The United legend is not pleased that the club owners are performing such an action when significant investment in the club is required, especially when all of United’s rivals are conducting their transfer business early in the summer.
According to Neville, it is not appropriate for the Glazers to take any dividends for at least the next three years.
Reacting to the news that Glazers want to take cash out, Neville wrote on Twitter: “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 club’s cash position is low compared to previous years. An announcement is needed to halt it for the next three years, minimum.”
Manchester United’s financial report, posted last month, showed that the club’s net debt had shot up by £52 million to £496 million. The club’s total debt now stands at £591million.
As Neville alluded to, United also require investment in Old Trafford and their training ground.
