Manchester United – Queiroz = Disaster?

The Daily Mail is today squealing with excitement like an overexcited schoolgirl after bumping into David Beckham. The reason? Carlos Queiroz has apparently accepted Portugal’s invitation to take their coacing job recently vacated by Big Phil Scolari.
The Mail’s Ian Ladyman (stop sniggering back there) reports that:

Manchester United assistant manager Carlos Queiroz was last night weighing up a £1.5million-a-year offer to become coach of Portugal.

Officials of the Portuguese Football Federation were in Manchester last night and reports in Lisbon claimed Queiroz has accepted the post.

Those reports remain unconfirmed but the offer to Queiroz is concrete and the highly-rated coach must now decide whether to stay at Old Trafford or take control of his own national side in the run-up to the 2010 World Cup in South Africa. (Daily Mail)

So is there any substance to this, and if there is, how much will the departure of the presumptive heir to the Old Trafford throne hurt United?