Manchester United Names New Manager

As quickly as a ball rocketing toward the net, Manchester United (NYSE: MANU  ) has named a manager to replace the retiring Sir Alex Ferguson. The storied football (soccer) club's new captain will be David Moyes, who is to take the reins on July 1 and serve for six years under the terms of his deal.

The 50-year old Moyes has been the manager of another English club, Liverpool-based Everton, since 2002. Prior to that, he served in the same capacity for Preston North End.

In the press release announcing the news, Manchester United quoted Ferguson as saying of his successor that "there is no question he has all the qualities we expect of a manager at this Club."

Ferguson's retirement was announced yesterday.

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