Man United Coach Mourinho Leaves After Worst Start for 28 Years

(Bloomberg) -- Manchester United Plc said manager Jose Mourinho had left the club with immediate effect. It follows the worst start to a Premier League season in 28 years for the world’s most valuable soccer team.

“The club would like to thank Jose for his work during his time at Manchester United and to wish him success in the future,” it said in a statement on its website.

Speculation had mounted over the Portuguese coach’s future following a 3-1 defeat to Liverpool at the weekend that left the team 11 points away from the top four positions that earn a place in the lucrative UEFA Champions League next season.

Former Chelsea, Real Madrid and Inter Milan manager Mourinho, 55, joined Manchester United in 2016, winning the UEFA Europa League, the continent’s second-tier tournament, and the domestic Carabao Cup in his first season. But United’s 26-point haul after 17 Premier League games this season is the club’s worst tally at that stage since 1990-91, according to soccer statistics firm Opta.

A new caretaker manager will be appointed until the end of the current season, while the club conducts a thorough recruitment process for a new, full-time manager, according to the statement. Former player Michael Carrick, currently a coach at the northwest England-based club, and former Real Madrid manager Zinedine Zidane are among the favorites to replace Mourinho, according to bookmaker Sky Bet.

Manchester United’s shares, which trade in New York, have fallen about 13 percent this year, while Stoxx’s index tracking European-listed teams has fallen about 3 percent. A research note from investment bank Jefferies on Monday recommended clients buy the shares despite the on-field woes as the company continues to capitalize on its global fan base.

©2018 Bloomberg L.P.