Date: 22nd January 2006 at 1:34pm
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Manchester United are set to confirm a £12.3million drop in annual profits to £46million on Monday.

The figures represent the first to be released since Malcolm Glazer completed his takeover in the summer, and it is caused by reduced TV money from the Premier League and lower income from the Champions League.

United confirmed the club paid out £2.2million in agents fees over the previous year, the vast majority of which went on Wayne Rooney’s £27million move from Everton in August 2004.

The Red Devils also paid out £1.5million to Paul Stretford’s Proactive group.

United spent £6.6million in legal and banking fees during the protracted Glazer takeover, which the club’s board were heavily in opposition to.