Manchester United part-owners, INEOS, have ended the multi-million-pound contract of Sir Alex Ferguson, who served as the club’s global ambassador since his retirement in 2013. The 82-year-old legendary manager, who spent 26 seasons at Old Trafford and won 38 major titles, had been in a long-standing agreement with the club, reportedly worth over £2 million annually.
The decision was made by Sir Jim Ratcliffe’s company, INEOS, which has taken significant steps to reduce Manchester United's operational costs. According to The Athletic, Ferguson’s ambassadorial role, in place since October 2013, has now been officially terminated. The Mirror UK also reports that the termination followed discussions between Ratcliffe and Ferguson earlier this week.
It is understood that the meeting between the two was amicable, and the decision to cut Ferguson’s contract was made as part of broader efforts to streamline the club’s expenses. There is no reported animosity between the club and Ferguson, who will continue to serve as a non-executive director of Manchester United.
Sir Jim Ratcliffe, who acquired a minority stake in Manchester United in December, has overseen several off-field changes since his involvement with the club, including restructuring the backroom staff and implementing redundancies. Reports suggest around 250 employees may be affected as part of the ongoing cost-cutting measures.
Despite the termination of his contract, Sir Alex Ferguson’s legacy as Manchester United’s most successful manager remains intact, and he continues to hold a symbolic role within the club's leadership. The decision marks another significant move by INEOS to reshape the club’s financial strategy as they seek to make Manchester United more sustainable amidst changing ownership dynamics.
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