- Ferguson led Man United to 38 trophies in a 26-year reign before retiring in 2013.
- The legendary coach became a global ambassador after his retirement.
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Manchester United have reportedly ended a multi-million pound deal with their legendary manager Sir Alex Ferguson as part of a cost-cutting drive.
Ferguson became the club’s ambassador and global director after stepping down as manager in 2013 following a 26-year reign.
He was reportedly paid £2.16 million a year to serve as the club’s global ambassador in a deal that has continued for more than a decade.
according to youthe AtléticoThe deal has been terminated by the club’s minority owners, Ineos, following a face-to-face meeting with Sir Jim Ratcliffe.
The move comes as part of a cost-cutting drive by Ratcliffe since Ineos took over football operations at the Premier League giants.
Sir Jim Ratcliffe (left) has reportedly terminated a £2.16million contract with Sir Alex Ferguson.
Ferguson was reportedly told in a face-to-face meeting that the contract would be terminated.
Ferguson was seen with the new Man United hierarchy at the club’s last game at Aston Villa
The report claims Ratcliffe had told Ferguson that the club is no longer prepared to continue payments while they look to cut costs.
It was claimed that the finalization of the deal had been dealt with amicably, with Ferguson remaining as a non-executive director and welcome to attend matches.
Ferguson had been pictured with the Man United hierarchy at the club’s final Premier League match before the international break against Aston Villa.
Ratcliffe was present for the 0-0 draw, which came before a board meeting scheduled last week.
The British billionaire had hailed Ferguson as an “essential part of the Man United story” in February after Ineos became a minority owner.
“I mean he’s the (most) iconic manager in the world, and he’s just an essential part of Manchester United’s history,” Ratcliffe told the Man United club website.
“I mean, he really made history for Manchester United in those 27 years he was there. And, you know, he was the best manager of his generation.
Ferguson had led Man United to win 38 trophies, including 13 Premier League titles and the Champions League twice.
Ferguson, who won 38 trophies with Man United, became an ambassador for the club after his retirement.
The legendary coach is still the club’s director and is regularly seen in the stands during matches.
Man United also reportedly canceled a Christmas party for employees amid Ineos’ cost-cutting drive.
Ratcliffe and his INEOS team embarked on a deep financial review after acquiring a quarter of the club’s shares earlier this year.
Mail Sport revealed that this led to them making around 250 redundancies.
The club has worked to create a more efficient business and ensure it maximizes the amount it can spend on its playing equipment.
The use of private drivers and company credit cards was among the first areas targeted, and incoming officials were stunned by what was perceived as excessive spending.
And some staff were dismayed when they were told they would have to pay for transport to the FA Cup final, breaking with tradition.
Other perks for senior staff, such as a pre-match party, post-match lunch and hotel accommodation, were eliminated entirely, as was the ability for those employees and managers to bring their friends and family to the main play. from Wembley.
