In the money: The Glazers have rewarded staff with huge
bonuses
Manchester United will pay out a record
£5million in bonuses to more than 500 Old Trafford
staff.
The Glazer family wrote to employees last Monday
to tell them they are all in line for a 7.9 per cent bonus on their
annual salary in recognition of the club’s success.
Some members of staff, such as £2million-a-year
chief executive David Gill, will net just under £160,000 from the
scheme.
Other high-flyers, such as chief operating
officer Michael Bolingbroke, chief of staff Ed Woodward and board
member Michael Edelson, have all hit the jackpot.
The Glazers were determined to reward staff
across the board after another hugely successful season at Old
Trafford. United won a record 19th top-flight title and reached
their third Champions League final in four years.
Performance off the field has also been reflected
in the Glazers decision to give staff record bonuses.
Job well done: David Gill will receive around
£160,000
Champions: Manchester United had a successful year
on the field
They have been on performance-related pay
since the Glazers took over in 2003, but the bonuses announced to
staff are a record.
Sir Alex Ferguson and his players have a separate
pay structure, but every other member of staff at United has been
rewarded.
The club employ 620 people at Old Trafford,
Carrington and at their commercial offices in London. Around 520
are non-playing staff and they have all been told the extra money
will appear in next month’s salary.
United’s
turnover is approaching £300million-a-year and the Glazers have
reflected the team’s success with these packages.
They are making inroads into their substantial
debt at Old Trafford, income is at record levels and they are
planning a $1billion flotation on the Singapore stock market.
United will publish the next set of accounts in October and they
are expected to show massive increases in salary levels.
The Glazers are delighted with the team’s
progress and commercial revenue is also at an all-time high.
They are convinced they have seen off the threat of a takeover from
various groups and have armed Ferguson with the funds to challenge
Barcelona.