Legendary Manchester United boss Sir Alex Ferguson, who has served as the club’s ambassador since he stepped down from managerial duties at Old Trafford in 2013, has reportedly come to an amicable agreement with the club’s new ownership to cease his duties as an ambassador at the end of the ongoing season amid cost-cutting measures from Sir Jim Ratcliffe.
The 13-time Premier League winner was granted the role of the ambassador by the Glazer family, and the Ineos boss Ratcliffe, who purchased 27.7 per cent of United’s shares over the summer, is believed to have delivered the news to Sir Alex in person.
According to the company accounts from a decade ago, Sir Alex received a stipend of £2.16m for the ambassadorial role. It is also believed that the 83-year-old Scot had thoughts about stepping down in due course.
It has been reported that around 250 members of staff on United’s payroll faced cuts amid the £113.2m losses they posted for the year ending 30 June 2024.
Ineos have resorted to a massive overhaul ever since their purchase at the club and are projected to save between £40m and £45m in their cost-cutting measures.
The once-heralded Manchester United find themselves in dire straights as they languish at 14th in the Premier League table in a season that hasn’t seen the best of the unit’s capabilities yet.
The club haven’t managed to get their hands on a Premier League title since the ‘Main Man’ Sir Alex bowed out from the touchline having secured the side’s latest PL crown in 2013.
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