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Dividends worth £33.6m were spread among those carrying stock, with the Glazers taking the lion’s share. At the same time, the club drew down a further £40m on available overdrafts, increasing the debt burden on United.
Stadium redevelopment, the Glazers’ long-term intentions amid public interest from Sir Jim Ratcliffe, and recruitment strategy were also discussed. There has been a period of restrictive covenant on Phelan taking a new job in football but he has not performed work for United since the end of last season when he supported interim manager Ralf Rangnick. However, Phelan has still been paid his wage on a contract signed in October 2021 because a final severance or a new role have yet to be agreed.