Sir Alex Ferguson is worth $142m to Manchester United, according to the US stock market. The club's shares fell 4.75% to $17.88 in early trading when the New York market opened a few minutes ago, as investors had their first chance to react to the news of Ferguson's retirement. Despite the $142m fall the club is still worth more than $2.9bn.
Joshua Raymond, chief market strategist at City Index said: "The club must make the announcement of Ferguson's replacement quickly. Uncertainty breeds nervousness and typically results in downward pressure on share prices.
"If shareholders needed an excuse to take their profits off the table, they got it this morning. But will the news impact long term shareholders who bought into the share price on the club's commercial prospects at this stage? I don't think so. Those selling Man Utd’s shares price today will do so out of fear and uncertainty.”
United's shares floated in New York last August at $14 each. In September they hit a low of $12 but have rallied as the club performed well on and off the pitch, winning the Premier League with games to spare and recently reporting a near 32% rise in revenues for the third quarter.
Sir Bobby Charlton has been speaking about his favourite Sir Alex Ferguson.
He is such a fantastic manager. Everything he has done has been fantastic. He is a sensational person in every form and I am really delighted for him. I am a director but I hardly do anything because we are winning all the time and it is all down to Sir Alex Ferguson. He would get up in the middle of the night and travel 300 miles if he thought there was a school boy that he could sign. He loves the game and we at the club have had nothing to do really. He has made his decision on various grounds like (because of) his family and because of the hip operation he will have this summer."
At last rawmeswaits.bogspot.com# Bye bye Sir ALEX......Salute.
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