Manchester United: 15 Million Pounds Every Year to Malcom Glazer Kids but Reports Loss in Current Year

Manchester United owned by Malcom Glazer had six children who are currently the shareholders of the world famous football club. They will be paid 15 million pound every year after club announced that it will pay dividend to its shareholders.

Avram, Joel, Kevin, Bryan and Edward Glazer, and their sister, Darcie Glazer Kassewitz - will be paid $3.9m (£2.5m) each annually as the majority shareholders of Manchester United plc, the United holding company registered in the Cayman Islands and floated on the New York stock exchange, said The Guardian.

The club disclosed its financial statements for 2014-15 on Thursday and stated that it will pay $0.45 every quarter per share to each share holder. All Glazer siblings will hold 131 million shares currently which make 80 percent of the total shares issued. This makes that each sibling will be paid $ 5.9 million every three months. The Glazer family floated shares on NY Stock Exchange in 2012 and currently sits on board. This is the first time since 2012 that they have announced dividend pay off to the shareholders.

Meanwhile, Manchester United published their annual accounts on Thursday, revealing the full extent of their failure to qualify for European club football's premier competition during the 2013/14 season. A seventh-place finish in the Premier League saw United - then under the management of David Moyes - miss out on European competition for the first time since 1989, said Sky Sports.

Manchester United saw revenues fall by £38m in the year to June, mainly due to failure to qualify for the UEFA Champions League. Total revenues were £395.2m, down from £433.2m, but sponsorship income hit record levels, up by 14.1% to £154.9m, reported BBC.