Sir Alex Ferguson has confirmed that he will be retiring as Manchester United manager at the end of the current Premier League season. To say this is a moment in sporting history is likely an understatement. Manchester United have announced current Everton manager David Moyes as Ferguson’s successor.
Whether United are able to maintain their level of success without Ferguson is an open question. One indicator we might look at for an initial reaction is the change in the club’s publicly traded stock price. On May 8th the MANU traded down at the open and dropped to a low of $17.75 (-5.4%) before recovering to end the day at $18.45 or just a bit below the previous close.
So the market seemed to shrug off the departure on the day of, we’ll have to see what happens in the coming months and when results from Moyes’ reign start coming in.