Why Manchester United sacked Moyes

LONDON — After a scant 51 games in charge, a win-loss record (27-15) that is the club’s worst in more than 40 years, and an open player revolt, Manchester United have sacked David Moyes and replaced him in the interim with fan favourites Ryan Giggs and Nicky Butt.

The move was widely anticipated, but stunning nonetheless for the reversal it represents: Barely a year ago, United won the Premier League by 11 points, and Moyes was announced as the successor to the legendary Alex Ferguson and greeted by the Old Trafford faithful as the Chosen One.

However, what was generally regarded as a difficult first season for Moyes turned into disaster almost from day one, with a pre-season trip to Australia’s famed Bondi Beach foreshadowing what is now widely accepted: Manchester United were too big for David Moyes.

The move to sack Moyes was made as much for financial as for footballing reasons. In January, it was reported that United’s share price had fallen 16 per cent — wiping an estimated US$500 million (S$628 million) off the club’s value — since Moyes took over, while Deloitte’s annual football money table placed the Old Trafford team outside of the world’s top three richest clubs for the first time in 17 years.

On Monday, as rumours of the sacking began to take hold, the club, which is listed on the New York Stock Exchange, saw its opening share price value slip by nearly 2.5 per cent, falling from US$17.86 to US$17.47.

The Red Devils’ share price gradually creeped back upwards and closed trading at US$17.72, with Moyes’ sacking announced at 8.30am GMT, just hours after trading had closed on the New York Stock Exchange.

Last night, the share opened 1.5 per cent higher at US$17.99 before retreating slightly to US$17.97 in the first hour after the opening bell.

With the club’s on-field form stuttering, the long-term impact on its financial future began to come into play. For now, a raft of commercial deals means United are still in fine fettle financially, but a repeat of this year’s results, which saw them lose out on lucrative Champions League football, would be disastrous.

Said Mr Victor Ng, a lifelong United fan in Singapore: “It’s all to do with money. What’s wrong with a season without Champions League football? If United weren’t in debt, Moyes would probably have had more time. But Moyes’ own failing was his inability to manage the egos of top stars.”

How did it go so wrong so quickly? A hint of the disaster that would be the Moyes era at Old Trafford came during the club’s summer tour, when it became evident that the Scot had misjudged the magnitude of the job he had walked into.

Having left behind the frenzy of Bangkok on the first leg of United’s summer tour, Moyes had decided to take his squad on an impromptu trip to Sydney’s famous Bondi Beach.

On a similar summer trip to Sydney with Everton, Moyes had taken players on the same bonding session and it passed without incident. But this was United, and Moyes’ new team was mobbed and besieged by supporters. He had to hide his players in the rooftop bar of a nightclub until security arrived to restore order, undermining his authority from the outset.

Moyes failed to heed the lesson of Bondi, however, and as his disastrous reign progressed, he somehow walked into every pitfall that lay in his path.

In a parting note, the club thanked Moyes for his “hard work, honesty and integrity”. That the share price barely moved on resumption of trading spoke for the shareholders’ response to the decision to finally remove Moyes. AGENCIES