Alex Ferguson Jim Ratcliffe Scotland News Premier League Manchester United soccer Sport Alex Ferguson Jim Ratcliffe Scotland

Alex Ferguson to leave Manchester United ambassador role amid Ineos cost-cutting

rte.ie

Alex Ferguson will step away from his ambassador role with Manchester United at the end of the season as part of a club cost-cutting exercise.The Scot won 38 trophies at United during a managerial reign spanning nearly 27 years, including 13 Premier League titles and two European Cups.It is understood that Ferguson has reached an amicable agreement with the club to cease his ambassador duties when the season ends.The news of the arrangement with Ferguson, which was first reported by The Athletic, is part of a wider cost-cutting exercise by United under Ineos, which has had responsibility for football operations at the club since its founder Jim Ratcliffe completed the purchase of a 27.7 per cent stake earlier this year.Ferguson turns 83 in December, and the ambassador role is understood to be one of a number of time-consuming duties he is planning to give up.Club sources say there was no acrimony over this matter, with Ratcliffe having met Ferguson face to face to say the club could no longer sustain the ambassador payments.

The Athletic reported Ferguson was listed as having received £2.16million for his ambassador duties in United's 2014 accounts.Ferguson always remains welcome at Old Trafford, United sources said, and he will remain a non-executive director of the football club board.Last month United posted losses of £113.2million for the year ending 30 June, 2024, but the club insisted they are compliant with the Premier League’s profitability and sustainability rules (PSR) where breaches are punishable by points deductions.The club are working to put themselves on a more sustainable financial footing and have instigated a number of cost-saving measures, including a redundancy programme which cut 250 jobs from

Related News
Johan Larsson knows what it's like to go the distance under Jimmy Thelin – and he firmly believes he'll already have told his Aberdeen players they CAN go all the way.
LONDON : Alex Ferguson may have been stripped of his Manchester United ambassadorial role last week but his legacy as manager remains a stifling cloud for those following in his footsteps, with Erik ten Hag the latest to be jettisoned after failing to measure up.
SCOTTISH CUP SECOND ROUND: Stirling Albion 6, Bo'ness Athletic 0
Dundee United have written to the SFA and the SPFL asking for clarity after Inverness called time on Terrors goalie Jack Newman’s loan deal.
Jose Mourinho believes the "love and respect" Sir Alex Ferguson has from Manchester United supporters trumps the ambassadorial role he will vacate at the end of the season.
Rangers fans have been left puzzled by manager Philippe Clement's post-match remarks on former Manchester United man Jack Butland's performance against Kilmarnock. The Light Blues had a disappointing day, failing to take advantage of Aberdeen and Celtic's draw on Saturday - their loss to Kilmarnock meant they fell further behind in the Scottish Premiership race than they were at the start of the weekend.

Latest News

Change privacy settings
This page might use cookies if your analytics vendor requires them.