The new co-owners of Manchester United from INEOS continue their cost-cutting program, and a recent decision is likely to upset the club’s supporters.
INEOS continue cost-cutting drive by cutting multi-million pound annual payment to Sir Alex Ferguson who will cease to be a global ambassador for the club at the end of the season.
According to The Athletic, Manchester United has officially ended its partnership with the club’s most successful manager, Sir Alex Ferguson.
🚨 INEOS have decided to cut Sir Alex Ferguson’s multi-million-pound ambassadorial contract with Manchester United, reports @AdamCrafton_ on @TheAthleticFC.
Ferguson will remain a non-executive director at the club, still obviously welcome to attend Man United games. pic.twitter.com/4uOjJQZqwE
— Fabrizio Romano (@FabrizioRomano) October 15, 2024
The 82-year-old managed the Red Devils for 26 seasons, winning 38 titles at Old Trafford.
Ferguson became a global ambassador for the Manchester club, when he decided to leave coaching in 2013. But, according to The Athletic, Sir Jim Ratcliffe’s company have decided to end the former manager’s link with the club.
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Both Sir Jim Ratcliffe and Sir Alex Ferguson reportedly met this week to try to reduce the club’s costs. At that meeting, they concluded that Manchester United would not continue to pay him beyond this campaign, thus cutting his multi-million-pound contract. Manchester United has decided to eliminate this expenditure.
Jim Ratcliffe has no personal problems with Ferguson, who will remain non-executive director of the club.
Ferguson was the manager of the Red Devils from 1986 to 2013, leading the team to 13 Premier League titles and two Champions League victories.
