NEW YORK (TheStreet) -- The retirement of Sir Alex Ferguson, the most successful manager in English soccer history, looks set to impact shares of his club, Manchester United (MANU), according to Andrew Wilkinson, chief economic strategist at Miller Tabak.
"Something to watch Wednesday is the performance of shares in Manchester United," he wrote, in a note released before market open. "Early indications suggest a 2% decline."
Ferguson recently guided United to a record 20th English league title and the 71-year old Scot has amassed 38 trophies during his 26 years at the helm of the famous club.
The manager's last game in charge of the storied club will be against West Bromwich Albion on May 19. In a statement released on Wednesday, Manchester United announced that he will become a director and ambassador for the club on his retirement.Shareholders will be keen to see the Manchester club continue its storied history, something which Wilkinson thinks is likely. "With an average squad age of 23 years old, the prospects remain bright for the club," he wrote. "However, those players will have to prove that a team is only as good as its manager." Speculation is rife about Ferguson's successor, with media chatter swirling around the likes of Real Madrid head coach Jose Mourinho and Everton manager David Moyes. "With the season culminating this weekend, shares in the company could witness rising volatility at least until a new successor is signed and even then the Premier League is closed for the summer," wrote Wilkinson. Manchester United shares closed at $18.77 at the end of Tuesday's trading session, and have risen 34.07% since the club's IPO in August 2012. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: firstname.lastname@example.org
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV