Jim Ratcliffe Ends Ferguson's Role at Manchester United Amid Cost-Cutting
- Sir Jim Ratcliffe has terminated Sir Alex Ferguson's £2 million annual ambassadorial contract at Manchester United.
- The decision is part of Ineos's broader cost-cutting measures, which have included staff reductions.
- Ferguson's ceremonial role on the board will remain, but the move raises questions about the club's financial management.
In a significant move at Manchester United, Sir Jim Ratcliffe has decided to terminate Sir Alex Ferguson's ambassadorial contract, which was valued at approximately £2 million annually. This decision comes as part of a broader strategy by Ineos, the club's ownership group, to implement cost-cutting measures amid financial pressures. Sir Alex Ferguson, who is 82 years old and has been a prominent figure at the club since his retirement in 2013, has held the role of global club ambassador, contributing to the club's image and outreach. Despite the termination of his salary, it is reported that Ferguson's ceremonial position on the board will remain intact, allowing him to continue his association with the club. The decision reflects the ongoing challenges faced by Manchester United in managing its finances and operational costs, particularly in light of recent staff reductions and other austerity measures undertaken by the new ownership. This move has sparked discussions among fans and analysts regarding the future direction of the club and the impact of such cost-cutting strategies on its legacy and community engagement.