Manchester United value rises £100m after Moyes sacking

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Football News

Manchester United's dismissal of David Moyes was certainly good news for the commercial side of the club, after seeing nearly £100m added to the value in the New York Stock Exchange.

The Daily Mail is claiming that confirmation of Moyes' departure set off a frenzy of trading when the stock market opened across the pond, leading to a dramatic increase in value.

With share opening at 17.72 US dollars, the increase in trading meant the price upon closing was 18.78 dollars*, adding £100m to the overall value of the club.

Manchester United owners, the Glazer family, took the decision to sack Moyes only 11 months into his six-year contract following a disastrous season at the Old Trafford helm.

Moyes was hand picked by Sir Alex Ferguson to replace him following his decision to retire after 27-years in charge.

However, the former Everton boss failed to replicate the success Manchester United experienced under his predecessor and leaves the club in a much worse state than he arrived in.

Not only will United finish the season with no silverware but they will also finish outside the top four for the first time in Premier League history and may even miss out on a Europa League place.

Ryan Giggs has been placed in temporary charge and is likely to manage the team for their final four Premier League games.

Louis van Gaal, who is due to quit as Netherlands coach after the World Cup, is favourite to be Manchester United's next long-term manager.

*The share price given above was true from the opening of today's trading.

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