Sir Alex Ferguson is set to step down from his £2 million-a-year ($2.6m) global ambassador role at Manchester United at the end of the season as part of the club’s ongoing cost-cutting efforts.
The legendary former United manager, now 82, led the club to 13 Premier League titles and two Champions League victories during a nearly 27-year reign at Old Trafford. According to The Athletic, Ferguson’s departure from the ambassadorial role has been decided amicably, and he will continue to attend matches and serve as a non-executive director on the club’s board.
The decision is part of broader cost-saving measures being implemented under INEOS, the company overseeing football operations at United following Jim Ratcliffe’s acquisition of a minority stake earlier this year.
Manchester United, currently 14th in the Premier League after a poor start to the season, posted losses of £113.2 million ($148 million) for the year ending June 30, 2024, marking their fifth consecutive year of financial losses. However, the club insists it remains compliant with the Premier League’s profitability and sustainability rules.
In addition to Ferguson’s departure, United has initiated other cost-cutting measures, including a redundancy programme that saw around 250 jobs cut. Manager Erik ten Hag is under significant pressure to turn the club’s fortunes around ahead of their upcoming match against Brentford.
