Manchester United have confirmed that for the first time in six years, a dividend made payable to the Glazer family has not been paid.
In the club's first-quarter fiscal results, United note that the board of directors did not approve the payment of the semi-annual dividend for 2023.
The much maligned American owners - who have recently put the Premier League giants up for sale - have been oft criticised for taking money out of the club, with the annual dividend payment a repeated bone of contention. The naked figures do make pleasant reading for the Glazers however, with United's total revenue increasing by £20million from £590m to £610m - a 13% rise from the last figures.
It is understood a reason behind the Glazers' decision not to take the dividends was partly because of United's record transfer window. The Red Devils spent over £220million on new recruits in the summer, with Lisandro Martinez, Casemiro and Antony all arriving for big-money fees.
This latest update has also followed the Glazers' announcement that they are willing to sell the club, 17 years after buying it. The Red Devils confirmed in a statement last month that the Glazers were exploring "strategic alternatives" and it is understood they will sell to the highest bidder, with Apple and Zara amongst those interested.
A statement read: "The process is designed to enhance the club's future growth, with the ultimate goal of positioning the club to capitalize on opportunities both on the pitch and commercially.
"As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company.
"This will include an assessment of several initiatives to strengthen the club, including stadium and infrastructure redevelopment, and expansion of the club’s commercial operations on a global scale, each in the context of enhancing the long-term success of the club’s men’s, women’s and academy teams, and bringing benefits to fans and other stakeholders."
Many Red Devils fans have wanted the Glazers to sell up after a decade of struggles since Sir Alex Ferguson's departure and they may get their wish, with Apple amongst the leading contenders. Apple has no experience of owning a football club the size of United, although CEO Tim Cook is keen to explore the opportunities owning United could provide. He is set to line up talks with the banks appointed to oversee the sale, which include The Raine Group.
Meanwhile, United legend Gary Neville has been a vocal critic of the Glazers and earlier this year called for a halt to their dividend payments. Speaking in June, he said: "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 3 years minimum."
United co-chairman Joel Glazer, who attended a fans' forum last year, has previously addressed the dividend payments.
"I know this is a subject that a lot of people have a lot of different views on, but when we take things and look at things as a whole, we think that Manchester United is a very well-run club and we think clubs throughout football could take a look at us, and there's a lot of good to be seen when it comes to some of these things that are controversial," he said.
