While the fans are debating on the pros and cons of Manchester United’s board deciding to sack manager Jose Mourinho, the investors of the club have certainly taken the big announcement as a positive sign. In the waking of Mourinho getting sacked, the club’s stocks which have been listed in the Frankfurt Stock Exchange in Germany have seen a steady rise.
After the announcement was made in the morning by the club, United’s European stocks saw a 1.4% rise in their prices. The news also travelled soon to the New York Stock Exchange in the USA where a majority of United’s stock are listed. The American investors too took the news as a great sign and the stocks in the NYSE also saw a steep rise of over 5%.
The news in New York came around at around 4.45 am in the morning and it had spread like wildfire before the markets were set to open at 9.30 in the morning.
The stock prices of United had closed at $17.34 the day before Mourinho’s sacking. The next day, United’s stock prices per share opened at a healthy $17.78. The shares then peaked at $18.22 on 12.59 pm New York time, which will undoubtedly be a good sign for the power brokers at Manchester United. The share prices again saw a rise as it jumped to $18.31.
With the investors dealing with the news in such a happy manner, United’s management will see this as a justification of their decision.
The club have been languishing at the 6th spot in the table and the club finally decided to relieve Mourinho of his duty, making the surprising announcement in a brief statement.
“The statement read:
“Manchester United announces that manager Jose Mourinho has left the club with immediate effect. The club would like to thank Jose for his work during his time at Manchester United and to wish him success in the future. A new caretaker manager will be appointed until the end of the current season, while the club conducts a thorough recruitment process for a new, full-time manager.”