Manchester United stocks down on Ferguson retirement

<p>Sir Alex Ferguson is retiring as Manchester United’s manager.</p>

The share price of Manchester United dropped by five per cent today (May 8th) on the back of the news the club's legendary manager Sir Alex Ferguson is stepping down.

Sir Alex confirmed today he will be leaving his position at the end of the season having won his 13th league title of his 26 years at the club.

Manchester United are expected to announce a replacement for Sir Alex in the coming days, with Real Madrid's Jose Mourinho, Everton's David Moyes and Dortmund's Jurgen Klopp believed to be the frontrunners for the role.

After an initial fall of five per cent in its share price when the New York Stock Exchange opened this morning, shares in the club were trading 1.44 per cent lower on the start of the day at around 16:00 BST.

Sir Alex has won two European Cup titles during his time at Old Trafford, marking him out as one of the most successful football managers of all time.

Some reports have claimed his replacement will be confirmed before the weekend.

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