Manchester United owners pocket £11m while putting off £10m tax bill owed to UK Government

The ongoing coronavirus pandemic has put all sporting activities in the UK on hold since the last few months. England has been one of the worst-affected European countries along with Spain and Italy. As of May 25, the coronavirus death toll across the UK has crossed the 36,000 mark. A number of top-flight English clubs were forced to put members of non-playing staff on furlough schemes offered by the government due to the huge financial setbacks being incurred after the league was suspended in March. The likes of Newcastle United, Norwich City and Southampton were forced to announce pay cuts for club staff. Meanwhile, Manchester United, one of the richest clubs in Europe, managed to pay their employed staff without much trouble. However, the club's financial books are in the red after they announced a 42 percent (£127.4m) rise in net debt for the last quarter.

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Manchester United owners Glazer family pockets £11m while putting off a £10m tax bill

Manchester United's overall net debt now stands at a reported £429.1 million, rising by £127.4m over the last 12 months. Despite this substantial debt, ESPN reported that Manchester United owners, the Glazer family, will still receive an £11 million payout while putting off a £10m tax bill owed to the UK Government. The Glazer family gets semi-annual payments adding up to £11 million per annum. The club had already made a commitment to pay the sum earlier this year in February, and are willing to go through with it, despite the coronavirus crisis. The report further adds that Premier League giants Manchester United want to show their financial strength during the ongoing pandemic which is why they will honour this arrangement, which is legally binding. Manchester United owners the Glazer family net worth is estimated to be around $4.7 billion as of 2016, as reported by Forbes.

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Premier League Project Restart plans

Premier League officials are working round the clock in order to go ahead with Project Restart next month. The British government has also given the green light for teams to resume close contact training ahead of a potential restart. However, players like Troy Deeney and N'Golo Kante have refused to train, citing health and safety concerns. 

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