Manchester United are expected to decide on sacking head coach Michael Carrick at a meeting in Monaco today, led by billionaire co-owner Sir Jim Ratcliffe. Chief executive Omar Berrada and director of football Jason Wilcox are said to be formally putting forward their recommendation that the head coach be shown the door.
Meeting and Recommendation
Carrick arrived at Carrington this morning, having had the Monday off following Sunday's 4-4 draw with Aston Villa, with both Berrada and Wilcox present at Old Trafford as the Red Devils rescued a point. A two-year contract Carrick signed before the end of last season reportedly contains an exit clause that would limit the club's payout to just this season.
The international break offers the ideal window to make a change and to install a replacement. Berrada and Wilcox are believed to be pushing for the end of Carrick's reign.
NYSE Disclosure Rules
But even if and when the sack decision is made, the Premier League giants cannot simply announce it straight away. As a company listed on the New York Stock Exchange, they must abide by strict rules. The exchange's regulations demand that listed companies swiftly release information that could reasonably be expected to have a material impact on the stock market.
A managerial change is considered potentially material information for investors, so United are obliged to disclose that news to the NYSE first. The New York Stock Exchange opens at 2:30pm and closes at 9pm UK time, Monday to Friday only, corresponding to 9:30am to 4pm Eastern Time, so there will be no announcement outside of that timeframe.
