Sir Alex Ferguson to retire

Manchester United say Sir Alex Ferguson is to retire as manager after 26 years in charge. Everton boss David Moyes is widely expected to be his replacement.

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Man Utd shares plunge 4% in 15 minutes

MANU shares trading on the NYSE today. Credit: Google Finance

Manchester United PLC shares on the New York Stock Exchange fell 4% in the first fifteen minutes after opening following the news that Sir Alex Ferguson is to retire.

Starting the day with a market capitalisation of £1.997bn, the 4.05% fall equates to a loss of over £80m in value - the same figure the club received when it sold Cristiano Ronaldo to Real Madrid in 2009.

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