Manchester United shares could soar when the market opens on Monday after the club sacked Ole Gunnar Solskjaer. The Norwegian manager was given his marching orders less than 24 hours after the Red Devils had been thumped by Watford on Saturday.
Man Utd shares are listed on the New York Stock Exchange rather than the UK’s Financial Times Stock Exchange – and the club’s share price was trading at $15.60 when the market closed on Friday evening.
Investors are likely to view Solskjaer’s departure as positive news for the long-term future of the club, meaning the share price could be driven up as an influx of buyers come to market when the exchange reopens at 2.30pm GMT on Monday.
Manchester United floated on the NYSE in 2012 as the club looked for a way to tackle its mounting debt.
In the aftermath of the sackings of David Moyes and Jose Mourinho the share price rose, indicating that it will do the same on this occasion.
The club’s shares were trading at $26.60 in August 2018 but have fallen a staggering 41 per cent since then.
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And the game was killed off after Joao Pedro and Emmanuel Dennis struck in stoppage time at the end of the match.
“Manchester United announces that Ole Gunnar Solskjaer has left his role as manager,” read a statement on the United website on Sunday morning.
“Ole will always be a legend at Manchester United and it is with regret that we have reached this difficult decision.
“While the past few weeks have been disappointing, they should not obscure all the work he has done over the past three years to rebuild the foundations for long-term success.
“Ole leaves with our sincerest thanks for his tireless efforts as manager and our very best wishes for the future.
“His place in the club’s history will always be secure, not just for his story as a player, but as a great man and a manager who gave us many great moments.
“He will forever be welcome back at Old Trafford as part of the Manchester United family.
“Michael Carrick will now take charge of the team for forthcoming games, while the club looks to appoint an interim manager to the end of the season.”
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