Shares in Manchester United have already risen by 1.5 per cent at the start of trading on the New York Stock Exchange following the departure of David Moyes this morning.

And according to Football finance analyst David Bick financial issues could be the biggest reason why Moyes has gone.

"Not qualifying for the Champions League is going to cost anywhere between £40 - 60 million next year and you'll have the knock on effect with lower merchandise sales, ticket sales and eventually lower sponsorship as well," said Bick on Sky Sports.

Sunday's 2 - 0 defeat to Everton confirmed United's absence from the next season's Champions League.