Sir Jim Ratcliffe has brutally ended Sir Alex Ferguson's ambassadorial contract with Manchester United, despite their friendly relationship.
The agreement, reportedly worth over £2million annually, was terminated as part of Ineos' ongoing cost-cutting measures, which have already resulted in 250 United employees losing their jobs.
Ferguson, who won 38 trophies as Red Devils manager, became a global ambassador for the club shortly after his retirement and has held the position for over a decade. READ MORE: Why Sir Alex Ferguson is stepping down as Manchester United ambassador READ MORE: Sir Alex Ferguson didn't speak to me for two years after I left Man United for Chelsea However, during a personal meeting with Ratcliffe, 71, Ferguson, 82, was told that the club would end the deal at the conclusion of the season.
According to The Athletic, the 13-time Premier League champion harbours no resentment about the decision, and both parties reached a friendly understanding.