Manchester United shares drop sharply before recovering amid rumours of David Moyes' imminent sacking

London: Manchester United's shares dropped sharply before recovering on the New York Stock Exchange amid rumours suggesting the possibility that their current boss David Moyes would be sacked.

Manchester United Football Club has remained tightlipped over the speculated rumours that the under-fire Scot would be sacked.

According to the Mirror, the club is listed in New York, which opened for business shortly after these rumours emerged.

United reportedly slipped almost 2.5 percent in value from 17.86 dollars-per-share to 17.47 dollars-per-share at the point of opening.

However, the share value began to rise back up slowly after that dip, but United will soon have to either confirm or deny the reports to stop the prices of their shares being affected.

Meanwhile, business at United appears to be going well despite the team's poor show on the pitch this season and the club has already locked up a 559 million-dollar deal with Chevrolet on their shirts for seven years starting from next season, the report added.