Manchester United part-owners Ineos have ended Sir Alex Ferguson's multi-million pound ambassadorial contract, a cost-cutting measure confirmed in a meeting with Sir Jim Ratcliffe. The legendary former manager, 82, had held the role since October 2013, reportedly earning over £2 million annually.
Ferguson was informed face-to-face that the club could no longer justify the expense beyond this season. Sources describe the meeting as amicable, with no rift between the club and Ferguson, who remains a non-executive director.
Ratcliffe, who acquired a minority stake in December, has overseen significant off-field changes, including restructuring and plans to axe 250 staff. The club spent over £200 million on transfers this summer to strengthen Erik ten Hag's squad.
Despite the termination, Ratcliffe previously praised Ferguson as a key figure in the club's history, noting their lengthy discussions about the club's values and traditions. Ferguson, who won 38 trophies during his 26-year tenure, continues to attend matches regularly.
