Financial Times perspective: Manchester United boss, Ole Gunnar Solskjaer, fired

Use Spotify? Access BizNews podcasts here..Use Apple Podcasts? Access BizNews podcasts here..___STEADY_PAYWALL___.Ole Gunnar Solskjaer fired as Manchester United boss.New York listed club's annual revenue has dipped from £600m to £494m – would fall further if it doesn't get into European cup competitions next season. .By Murad Ahmed and Samuel Agini of The Financial Times.NOVEMBER 21 2021.Manchester United has sacked team manager Ole Gunnar Solskjaer after a disastrous run of results that has left the football club facing a struggle to qualify for lucrative European competitions next season..The club's board held an emergency meeting on Saturday night after a 4-1 defeat at Watford, the fifth defeat in seven Premier League matches..Manchester United, owned by the US billionaire Glazer family, said on Sunday that Solskjaer had "left his role".."Ole will always be a legend at Manchester United and it is with regret that we have reached this difficult decision," the club said. "While the past few weeks have been disappointing, they should not obscure all the work he has done over the past three years to rebuild the foundations for long-term success.".Michael Carrick, coach and former player, will take charge for upcoming matches, with the club confirming that it will seek to appoint an interim manager until the end of the season..The Norwegian was the club's fourth manager since Sir Alex Ferguson retired in 2013, the last time the club won the Premier League..Hopes were high for this season after the club spent heavily on new players, including big outlays on transfer fees and player wages to sign stars including Cristiano Ronaldo, Raphael Varane and Jadon Sancho..In full-year results for the 12 months to June 30 2021, covering the last football season, the New York-listed group reported revenues of £494.1m..With fans returning to stadiums following the pandemic, the club aims to return to pre-pandemic annual revenues of more than £600m, making it among the richest in world football..Most of this income is stable. Its Old Trafford stadium is sold out every season through advanced season ticket and hospitality sales. Broadcasting deals are made centrally by the Premier League and Uefa, European football's governing body..The one area of financial volatility is whether the team qualifies for the Champions League, Europe's most prestigious club contest in which €2bn is shared among participating clubs..Saturday's result left United in seventh in the Premier League table and at risk of missing out on next season's continental contests..Solskjaer is credited with restoring stability to the club after the sacking of José Mourinho in December 2018, finishing second in last season's Premier League. But he has failed to win a trophy in his time as manager of England's most successful club in domestic competitions..Solskjaer also led United to the final of last season's Europa League contest, but lost on penalties to Spanish side Villarreal.."His place in the club's history will always be secure, not just for his story as a player, but as a great man and a manager who gave us many great moments," said Manchester United.

Financial Times perspective: Manchester United boss, Ole Gunnar Solskjaer, fired

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