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Manchester United to hold AGM in Philadelphia in June

Published 20/05/2016

Louis van Gaal's Manchester United finished fifth in the Barclays Premier League this season.
Louis van Gaal's Manchester United finished fifth in the Barclays Premier League this season.

Manchester United's 2016 annual general meeting of shareholders will take place in Philadelphia in June.

The club announced on Friday that the AGM will begin at 3.15pm local time (8.15pm UK time) on June 23 in the offices of law firm Akin Gump Strauss Hauer & Feld LLP.

United face Crystal Palace in the FA Cup final on Saturday to conclude a season that has seen them fail to secure Champions League qualification for 2016-17, having finished fifth in the Barclays Premier League.

The future of boss Louis van Gaal has been the subject of considerable speculation all season as talk persists about the possibility of him being replaced by Jose Mourinho this summer.

But while that makes for a shaky-looking picture, United are on course to become the first British club to earn more than half a billion pounds in a single year.

Their third-quarterly financial results released last week showed the Old Trafford outfit expect to earn between £500million and £510m of revenue in 2016.

They announced record third-quarter revenues of £123.4m, up 29.9 per cent on last year, and commercial revenues rose 37.7 per cent to £65.8m.

Broadcasting revenue for the third quarter was £27.8m and matchday revenue came in at £29.8m, with total operating expenses of £102.2m - a 3.2 per cent increase compared to the same quarter last year.

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