Sir Jim Ratcliffe and INEOS have decided to terminate Sir Alex Ferguson’s ambassadorial contract with Manchester United as part of cost-cutting measures at Old Trafford.
Ferguson managed United for 26 years, winning 38 trophies before retiring in 2013. Since then, he has served as a global club ambassador and club director, earning £2.16 million for his post-retirement role, which has continued over the past decade.
Ratcliffe and INEOS have focused on reducing costs at United, now targeting Ferguson, who is 82 years old. According to The Athletic, Ratcliffe met with Ferguson in person to inform him that the club would no longer continue those payments.
The meeting reportedly ended “amicably,” and Ferguson, who regularly attends matches in the director’s box, will remain a non-executive director. However, he will not receive any payments from the club after the end of the 2024-25 season.