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Manchester United have decided to part ways with Sir Alex Ferguson as part of their cost-cutting measures under the new leadership of co-owner, Sir Jim Ratcliffe.
Since his retirement as manager in 2013, Sir Alex Ferguson has been serving as a global ambassador and club director for United while being paid a significant sum reportedly around six figures yearly.
Despite his immense contributions to the club, sources have revealed that the decision to end his ambassadorial role was made following a direct conversation between Ferguson and the club’s co-owner Ratcliffe.
The club has emphasized that Ferguson will always be welcome at Old Trafford as his ambassadorial and director roles at the club stop at the end of this season.
This move comes as part of a broader effort by Ratcliffe to reduce costs and allocate more funds toward team investment. The cost-cutting measures at Manchester United have already seen over 250 staff members being made redundant, with an expected annual saving of around £10 million.
This decision comes in the wake of the club reporting a net loss of £113 million last month, bringing them close to the Premier League’s £115 million three-year loss limit. Despite financial challenges, the club has reiterated its commitment to complying with the league’s regulations.
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