Manchester United’s share price reached its highest ever price at market close today following the sacking of David Moyes.
Shares opened at $17.90 and rose steadily through the day before peaking at $19.00 and closing at $18.78, a 5.98% increase in trading, taking the stock to its highest price in nearly 12 months which will be music to the ears of the Glazers as money is more important than anything to them.
For United fans, it is more a relief than anything that Moyes is gone. Nobody really expected to see anything happen until, at the very earliest, the end of this season but now that he has departed, we can start to look forward to next season more.
Given the way the year had gone, it felt like Moyes was going to be given more time by the board to try and make United his own but the 2-0 loss to Everton clearly tipped it over the edge for Moyes.
Was the decision to sack Moyes driven by results of fear of damaging the corporate image? In reality, it is largely irrelevant because ultimately, the majority of fans are happy with the decision and would be regardless of the reasons behind why it happened when it did.