Manchester United Plc (NYSE:MANU) climbed in pre-market trading on Monday as news broke Erik Ten Hag had been ousted as manager of the Premier League football club.
Ten Hag was told of the club’s board’s decision on Monday morning, having joined Man U in 2022 and had his contract extended to 2026 three months ago.
Ruud van Nistelrooy, who served as Ten Hag’s assistant, will take charge on an interim basis as a permanent manager is sought, the club said in a statement.
It comes as Man U sit 14th in the Premier League after the club’s second-worst start in the top flight, with Ten Hag’s tenure culminating in a 2-1 loss to West Ham United on Sunday.
Brentford boss Thomas Frank is among names to have been linked with the Man U job, alongside Sporting Lisbon's Ruben Amorim, Borussia Dortmund's Edin Terzic and former Barcelona boss Xavier Hernández Creus.
“Erik was appointed in April 2022 and led the club to two domestic trophies, winning the Carabao Cup in 2023 and the FA Cup in 2024,” Man U said.
“We are grateful to Erik for everything he has done during his time with us and wish him well for the future.”
Shares surged 3.3% to US$16.49 in pre-market trading.