Man U sanctioned Moyes' sacking two months ago following CL defeat to Olympiakos

Manchester United owners the Glazer family had reportedly sanctioned David Moyes' sacking almost two months ago following the clubs Champions League defeat at Olympiakos on 25 February.

United's decision to get rid of the Scot had been discussed and speculations are that it had been given the green signal at a recent board meeting of the club, but suggestions are that there is a financial reason behind delaying Moyes' axing until now.

According to the Independent, Moyes has been sacked from his post as United boss just 10 months after Sir Alex Ferguson appointed him as his successor at Old Trafford.

Veteran footballer Ryan Giggs has reportedly been placed in temporary charge of United after Moyes's sacking just 316 days after the Scot had been appointed as the manager of the club.

United has reportedly confirmed that Giggs would be in charge at the club, starting from their next game at home against Norwich City on Saturday, until a permanent manager is appointed.

Moyes, who had been appointed United boss for a term of six years, will only take away an year's pay from the five years outstanding of his six-year contract because of the club's failure to qualify for the 2014-15 Champions League under the Scot, the report added.

Initially, speculations were that Moyes would be sacked after United's Premier League season came to an end at Southampton, but the club's chief executive Ed Woodward is urgently seeking to tie up transfer business in Germany and Spain before the World Cup starts, the report further added.