Manchester United Ends Ambassador Contract With Sir Alex Ferguson

Manchester United’s part-owners, Ineos, have ended a multi-million-pound ambassadorial contract with Sir Alex Ferguson.

The legendary manager, who stepped down after 26 years in charge in 2013, had signed an agreement to serve as a global ambassador for the club soon after his departure.

Reports indicate that this contract, worth over £2 million a year and in effect since October 2013, has now been terminated by Ineos.

Ferguson was informed about the decision during a face-to-face meeting with Sir Jim Ratcliffe, where it was explained that the club is working to reduce costs and can no longer afford to continue paying him beyond this season.

Sources suggest that the meeting was amicable, and there are no hard feelings between Ferguson and the club, where he continues to serve as a non-executive director.

Ratcliffe, who acquired a minority stake in Manchester United last December, has implemented several changes at the club, including restructuring the backroom staff and announcing plans to reduce the workforce by 250 employees.

This comes after Manchester United became the second-highest spenders in the Premier League during the summer transfer market, investing over £200 million to reshape manager Erik ten Hag’s squad.

Ratcliffe has previously praised Ferguson, noting his immense experience and understanding of the club’s values and traditions. In February, he described their first meeting, stating, “He never stopped. He’s got a lot of experience, a lot of stories to tell, and a lot of thoughts about the club. He’s still fiercely competitive, Alex Ferguson.”