Football

Sir Alex Ferguson's departure costs Manchester United £300m

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The true repercussions of Sir Alex Ferguson's retirement go well beyond Manchester United's poor performances this season.

Not only have Manchester United seen a spectacular and rapid decline of their form both in the Premier League and the Champions League but their performance on the New York Stock Exchange is noticeably poorer.

Since David Moyes has taken over at Old Trafford, the value of the Premier League champions has plummeted by a massive 21.5% with share prices falling from $19.04 in May to $14.95 at the close of play on Wednesday night.

That drop in price has wiped an incredible £300m from the value of the club, proving that Fergie's absence is costing them more than good performances on the pitch.

Moyes was handed a six year contract shortly after Manchester United sealed their 20th league title but has since failed to replicate the success.

The Red Devils sit seventh in the Premier League and look set to miss out on a top four place for the first time in its 22 year history.

They also face an uphill task to qualify for the quarter-finals of the Champions League after succumbing to a 2-0 loss away to Greek champions Olympiakos.

Moyes' latest failing led for more calls for him to be axed with rumours circulating on Wednesday that the NYSE had been told Moyes was to be axed when the market opened at 09:30.

Those rumours were quickly denied by Manchester United, who have reportedly reassured Moyes that his job is not yet under threat. 

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Topics:
Premier League
Football
Manchester United

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