David Moyes, who has only been in charge of Manchester United since July, paid the price for a hugely disappointing season today when it was announced that he has left the club.
Manchester United plc is listed on Wall Street. Its shares went up by 7% to $19 in the first few hours of trade.
The 50-year-old Scot was appointed on the personal recommendation of Alex Ferguson who retired at the end of last season after 26 years in the job having steered United to the title for the 13th time in his reign and 20th time overall.
Moyes, who had been manager of Everton for 11 seasons but never won a major trophy, was given a six-year contract but the Old Trafford club have lurched from one crisis to another.
A 2-0 defeat at Everton on Sunday was the final straw for the club's US owners, the Glazer family, as seventh-placed United have failed to qualify for the Champions League for the first time since 1995-96.