Bloomberg reported Manchester United Plc shares climbed $1.06, or 6 percent, to $18.78 at the close in New York, after a 2-0 loss to Everton, two days ago.
Last year, during the Champion’s League, Manchester United bagged 35.6 million euros in prize money and this tragic defeat to Everton, has wrecked Manchester United’s chance of qualifying for the upcoming season of Champion’s League – the first major loss in 19 years.
David Moyes, a 50-year-old Scot was hired last May, on a six-year contract. Moyes lost his manager’s seat due to this defeat and other under performed matches.
With four of 38 games left, defending champion United is seventh in the Premier League. It has racked up 11 defeats -- its most since the championship began in 1992.
Moyes replaced Alex Ferguson, the team’s most successful coach who won 38 trophies in 26 years and it is decided that midfielder Ryan Giggs, who has played a record 962 times for the club, will be the club’s interim manager.
During Moyes’s short-lived glory of managing United, he signed a few players like Chelsea play-maker, Juan Mata with club record fee of 37.1 million pounds ($62.4 million) during the mid-season transfer window and the following month, Wayne Rooney’s contract got extended to 2019.
Moyes’s first major signing on the final day of the pre-season transfer period was Everton’s Marouane Fellaini. This Belgian midfielder has only played 20 times for United.
Edward "Ed" Woodward, who is currently responsible for the overall operation of Manchester United FC, this executive vice-chairman of the club told Bloomberg that United plans more transfer spending after this season.
According to Bloomberg, Edward Freedman, who headed United’s merchandising unit in the 1990's quoted as saying, “The whole handover was chaotic”
Freedman added, United’s droopy performance on the field will shrink the prospect sponsorship agreements and grind down the merchandising sales even if the team’s earnings have held up so far. A 13-year jersey deal with Oregon-based Nike Inc. (NKE), worth 303 million pounds, expires next year.
“They’re not going to get the same sponsors or size of sponsors,” Freedman said. “They’re living on former glories at the moment.”
The club’s American owner, the Galzer family held an initial public offering in August 2012, raising $233 million by selling 10 percent of the 136-year-old club at $14 per share. The family also owns the Tampa Bay Buccaneers of the National Football League.
Linawati Adnan
Thu Apr 24 2014
Iran's supreme leader says Hamas leader's death will not halt 'Axis of Resistance'
The "Axis of Resistance", built up with years of Iranian support, includes Hamas, the Lebanese Hezbollah group, the Houthi movement in Yemen, and various Shi'ite groups in Iraq and Syria.
Putin says Russia willing to seek compromises between Iran and Israel
Russia is ready to help seek compromises between arch-foes Israel and Iran, President Vladimir Putin said on Friday, saying these would be difficult but possible.
What proposals will Russia push at the BRICS summit?
The proposal is also to establish a BRICS reinsurance company to allow uninterrupted shipment of goods and key commodities between members.
Indonesia's free meals plan in the spotlight as Prabowo readies for office
Prabowo calls the programme one of the main drivers of economic growth, eventually set to add an estimated 2.5 million jobs.
Astro AWANI's revamped English news website, AWANI International, launches on Oct 21
Astro AWANI's revamped English platform delivers in-depth global news and expert analysis to keep you informed on key developments.
Israeli strikes kill 33 people in Jabalia refugee camp in Gaza, medics say
Residents of Jabalia said Israeli tanks had reached the heart of the camp after pushing through suburbs and residential districts.
Liam Payne's ex-partner calls for media restraint after 'painful' death
Cheryl Tweedy used her statement to urge the media to remember they had a seven-year-old son, Bear, who could read the reports.
Analysts: Indonesia's strong MoF leadership team to boost investor confidence
Sri Mulyani Indrawati as head of Indonesia's Ministry of Finance is expected to instil confidence among investors.
Biden offers both a carrot and a stick to Israel as his term nears an end
Israel has frequently resisted US advice and has caused political difficulties for the Biden administration.
Putin says BRICS will generate most of global economic growth
Russian President Vladimir Putin will host a summit of the group in the city of Kazan on Oct. 22-24.
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.
NFOF will be operational in November 2024 with funding of RM1 bil
PM Anwar Ibrahim said NFOF will support venture capital fund managers to invest in startup companies with RM300 million set aside for 2025.