Yahoo Finance Why sacking Manchester United's Jose Mourinho was a good decision — in one chart
If there were any doubt that sacking Jose Mourinho as manager of Manchester United (MANU) was a good decision, the stock market certainly supported the move.
The UK football club is listed on the New York Stock Exchange (^AMZI) and has a market capitalisation of just over $3bn (£2.37bn). When a major business decision is made, such as the sacking of Mourinho, an uptick in the share price indicates that investors are supportive of corporate action.
Mourinho was axed on Tuesday (18 Dec) and shares jumped on the news. It closed up by nearly 6% at $18.39.
United has suffered its worst start to a season in 28 years under Mourinho’s tenure. Shares in the club had plummeted by nearly 23% in the past three months.
The former manager was widely respect for for his hugely successful career in charge of a number of football clubs, including Portugal’s Porto and Britain’s Chelsea. In 2016, he was expected to restore United to glory, after a troubled period since legendary manager Sir Alex Ferguson retired in 2013.
But after a tumultuous two-and-a-half years at the club, Mourinho was given the red card after United suffered a 3-1 defeat at the hands of arch-rivals Liverpool on Sunday.
READ MORE: Jose Mourinho’s sacking from Manchester United is the epitome of workplace hubris
