Moyes' dismal 10 month stint in charge at Old Trafford was ended on Tuesday morning, as the former Everton boss paid the price for a terrible season which has seen United slide from Premier League champions to seventh placed also-rans, scrapping for a Europa League place.
It's widely believed that Holland manager Louis van Gaal will be the next man in the Old Trafford hot seat, and Savage says that whoever takes charge needs to be given up to £200m to spend in the summer transfer window if they are to be a success at United.
"Two seasons out of the Champions League would be ridiculous so it's vital the new manager is given money - and I'm not talking about just a few million,” Savage told BBC Sport. “United are at a pivotal moment in terms of their future and the owners need to spend between £150m and £200m.”
"Whoever is appointed faces a rebuilding job. And a major one at that. United need to get rid of 11 or 12 players as too many have under-performed,” Savage went on to say. “Those who should be questioning themselves this season include Ashley Young, Tom Cleverley, Alexander Buttner, Chris Smalling, Marouane Fellaini, Anderson and Nani. I don't think any one of them would say they have performed consistently well this season," he added.
Even when Moyes was in charge, it was widely expected that United would spend a huge amount of money this summer in a bid to remedy an ageing and underperforming squad of players. With a new manager now on the way, with his own plans in the transfer market, some players may be given another chance, but United will still need to be active in the transfer window at the end of the season - not dawdling like they did last year.