No, only when there's a second manager. There's also issues with screen flow when playing 'hot seat' like this, for instance press conferences not pausing the game and such. Maybe this has something to do with it hanging before matches. (As said above, reloading fixes this issue. You can switch to the second manager and save and then reload.)
For reasons I won't go into I added a second manager later, the issue repeated itself. I have a skin installed though, so I'll see if the issue resolves itself by switching back to the standard. If it doesn't I'll let you know and upload another savefile.