Manchester United and the Ineos group, which recently co-owned the club, have decided to terminate Sir Alex Ferguson’s ambassadorial contract. This decision is part of a cost-cutting policy introduced by Sir Jim Ratcliffe, causing shock waves among Red Devils supporters.
Ferguson, who received an annual salary of around 3 million euros for this role, will however continue to occupy a position as non-executive director of the club, without financial compensation. According to The Athleticthe end of this contract between Ferguson and the club marks a desire to rationalize expenses.
An austerity strategy assumed by Ineos
In addition to this measure, Manchester United also announced the upcoming elimination of 250 internal positions in order to reduce annual costs by 50 million euros. Despite his withdrawal from the ambassadorship, the former Scotland manager will remain free to attend matches at Old Trafford, but will not participate in the strategic decisions of the board of directors.
“ Sir Alex took the news very well », reports
The Athleticspecifying that the legendary former coach of the Red Devils has reached an amicable agreement with the club. However, this news could create a strong controversy among Mancunian fans, already unhappy with the recent management of the club.
