Sir Alex Ferguson Annouce Retirement; Manchester United Share drops 5%.


In the Red: Devilish 5% drop in share prices for Man United on Stock Exchange after Fergie retirement news

Manchester United shares dropped nearly 5 per cent in the first 10 minutes of trading on the New York Stock Exchange when it opened at 2.30pm this afternoon.

Shares were down 4.7 per cent to $17.88 after the news – which came overnight in America – that Sir Alex Ferguson was stepping down as manager of United after more than 26 years at Old Trafford.

The 71-year-old only told his players at the Carrington training ground this morning, five hours before trading in America was to begin.

Big drop: Sir Alex Ferguson's decision to retire saw United shares fall 5 per cent on the stock exchangeBig drop: Sir Alex Ferguson’s decision to retire saw United shares fall 5 per cent on the stock exchange.

The near 5 per cent dip is a ‘fairly sizeable fall’, according to one business expert, but not disaster territory. At one point the shares were down 5.5 per cent but have been recovering since.

Ferguson arrived at the club as normal at 6.50am, before hastily arranging three separate meetings with his first-team squad, his technical and coaching staff, and finally the rest of the staff at Carrington.

Shortly after the players arrived, he gathered the team together in the changing rooms and, in a short but heartfelt speech, announced he was to step down at the end of the season after landing his 13th Premier League trophy.

He told the players that he was sorry he had to break the news to them now and that he had been hoping to delay the announcement and do it under his own steam.

Ferguson then took his technical and coaching staff into a briefing room and spoke to them, before finally addressing all the rest of the staff in the canteen.

Momentous day: Ferguson has been English football's most successful managerMomentous day: Ferguson has been English football’s most successful manager
Every one from footballers, sport personalities, mangers, business men (Alan Sugar), club chairmans and even Manchester United release a Thank You statement. Other United old and recent stars like Christiano Ronaldo, David Beckham, etc have come out to show their support – Beckham and C. Ronaldo dropped their statements on twitter.
And apparently, its been widely speculated that David Moyes would be the successor of Sir Ferguson.
Old Trafford

Story: apartly from  DailyMail

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