Man United’s share price soars after firing Mourinho
Getting rid of Jose Mourinho actually earned Manchester United money.
Work that one out...
United reportedly had to pay Mourinho over $22 million in compensation for cancelling his contract with over 18 months remaining on the deal.
However, it is estimated that United earned over $151 million as their share price rose on the New York Stock Exchange following the firing of Mourinho. The overall share price rose by 5 percent on Tuesday.
Not bad for a club in crisis.
On the face of things investors were likely swayed by Mourinho’s negative vibes finally leaving Old Trafford, and executive vice-chairman Ed Woodward has essentially signalled a period of calm by appointing Ole Gunnar Solskjaer as their caretaker manager until the end of the current season.
With a full review and restructuring of the soccer operations expected at United between now and next summer when a new permanent boss is appointed, things will settle down a little as Solskjaer will be left to try and get the best out of the talented, but underperforming, squad he has at his disposal.
Under Mourinho United’s share price had lost a third of its value since August, so on and off the pitch problems were starting to arise from his haphazard behavior with players and the media.
Finances have never been a problem for United, even after the heyday of Sir Alex Ferguson’s reign, but it is likely the Premier League giants will be rather pleased that firing Mourinho actually made them money.