Ferguson to leave Man Utd ambassador role as club cuts costs
It comes as part of a wider cost-cutting exercise at United under INEOS, which has had responsibility for football operations at the club since its founder Jim Ratcliffe completed the purchase of a minority stake earlier this year.
FILE: Sir Alex Ferguson during the unveiling of a statue in honour of himself on 25 February 2022 at Pittodrie Stadium in Aberdeen, Scotland. Picture: Stephen Dobson / ProSportsImages / DPPI via AFP
LONDON - Alex Ferguson is leaving his reported £2 million-a-year ($2.6m) ambassador role with Manchester United at the end of the season as part of a cost-cutting exercise.
The former United manager, 82, won 13 Premier League titles and two Champions League crowns among a huge trophy haul during nearly 27 years at Old Trafford.
The Athletic reported that the decision had been made amicably, with Ferguson stepping down from the global ambassador role when the season ends.
Ferguson, a regular at matches since he stepped down in 2013, will remain a non-executive director of the football club board.
It comes as part of a wider cost-cutting exercise at United under INEOS, which has had responsibility for football operations at the club since its founder Jim Ratcliffe completed the purchase of a minority stake earlier this year.
Last month United posted losses of £113.2 million ($148 million) for the year ending 30 June 2024 - their fifth straight year of losses.
But the club said they are compliant with the Premier League's profitability and sustainability rules.
United have instigated a number of cost-saving measures, including a redundancy programme that cut about 250 jobs.
The move to axe Ferguson's role was branded "scandalous" by one of his most successful signings, Eric Cantona.
The Frenchman, who won four Premier League titles in a five-year stint under Ferguson from 1992-97, wrote on Instagram: "Sir Alex Ferguson should be able to do anything he wants at the club until the day he dies. Such a lack of respect. It's totally scandalous. Sir Alex Ferguson will be my boss forever!"
United are currently 14th in the Premier League after a poor start to the season, with manager Erik ten Hag under intense pressure ahead of Saturday's game against Brentford.