Manchester United shares jump 6% after manager Moyes booted
Published on Apr 23, 2014 6:09 AM
NEW YORK (AFP) - Shares of Manchester United jumped 6 per cent on Tuesday after the struggling Premier League giant sacked manager David Moyes just 10 months into the job.
Shares of the popular British football team, traded on the New York Stock Exchange, leaped in opening trade and rose to US$19.18, before closing at US$18.78, their best level since May 2, 2013.
The company announced Moyes's departure ahead of the market opening, a much-anticipated move after the club's poor showing this season.
Moyes was recruited to replace legendary manager Alex Ferguson last year, inheriting a team that had romped to the Premier League title - United's 20th English League crown - by 11 points.
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