Manchester United management has given a 12 game deadline to club coach David Moyes to save his job.

Prestigious English newspaper The Independent has reported today that the Scot is under increasing pressure from the Glazer family and have to show some positive results in coming weeks to convince them.

Though the club’s owners retain full confidence in Moyes, the defeat at Olympiakos in the worst performance of his seven months at the helm appears to have changed the mood about the manager’s capacity to turn around the situation at Old Trafford. United have not contemplated changing manager this summer, with the expectation being that Moyes will have set United on course by the next campaign. But he is not immune to dismissal if there is a downward momentum between now and May. The fall-off in performances – United have taken 45 points from 27 Premier League games this season compared with 68 from 27 last season – is on a scale the club had simply not anticipated.

For the record, the Red Devils have just 12 games remaining in the season should they get knopcked out of the Champions League by Olympiacos after losing 2-0 in Greece on Tuesday night.

The headline in the Independent comes a day after rumours spread like wildfire from the supposed corridors of the New York Stock Exchange is that David Moyes is about to leave Manchester United by mutual consent.

W ith United facing Liverpool and Manchester City at home in a nine-day spell next month. Those games fall either side of the Champions League last-16 home leg against Olympiakos in which United must repair a 2-0 deficit after this week’s dismal away-leg display. Moyes has 10 weeks to satisfy the Americans that he is the man to rebuild United into a side who can challenge for the title next season.

Worryingly for Moyes, bookmakers installed him as odds-on favourite to become the next Premier League manager to be sacked on Wednesday. The alarming nature of the defeat in Greece, United’s sixth loss in 12 games this year, contributed to the sense of Moyes’s reign unravelling.

Robin van Persie’s post-match criticism of the team’s tactics did little to suggest universal support of the manager within the dressing room.

The club will launch into the transfer market this summer with a pitch to prospective new players that winning the Premier League – rather than merely regaining a top-four place – is their ambition for 2014-15. Potentially there could be six new recruits in a pivotal four months of business. It is also being reported that club have huge transfer kitty of 200 million pounds for the summer transfer window.

Moyes will only stay if the club’s owners believe he has the capability to turn a £200m investment in players into success on the pitch. One of the most disquieting aspects of the last month is that United do not seem to be improving despite the return of the Robin van Persie/Wayne Rooney partnership after injuries and the addition of Juan Mata to the ranks. Many of the players in Moyes’ squad – including Tom Cleverley, Shinji Kagawa and Danny Welbeck – appear desperately short on confidence.

Moyes will also be asked to develop the players he already has, as United’s board feel that the “churn” of seven players coming in and going out has the potential to alter the dressing-room dynamics, leaving the manager with too much integration to contend with early in the season.

United came under fire over emails warning season-ticket holders who had not met their obligatory payment for the Olympiakos home match in three weeks that they would be refused their season-ticket entrance for the Manchester City home game if they didn’t pay up.