Sir Alex Ferguson is set to leave his £2 million-a-year ($2.6 million) ambassador role with Manchester United at the end of the season as part of the club’s ongoing cost-cutting measures.
The 82-year-old legendary manager, who secured 13 Premier League titles and two Champions League trophies during his 27-year tenure at Old Trafford, will step down from his ambassadorial duties, according to The Athletic.
The decision, described as amicable, aligns with United’s broader financial restructuring under INEOS, the organization that took over football operations at the club after Jim Ratcliffe’s minority stake purchase earlier this year.
Despite stepping away from the ambassador role, Ferguson will continue as a non-executive director on the football club’s board.
This move comes after United reported significant financial losses of £113.2 million ($148 million) for the fiscal year ending June 30, 2024—the fifth consecutive year of losses. Nevertheless, the club has maintained compliance with the Premier League’s profitability and sustainability regulations.
To curb rising costs, United have already implemented several cost-saving initiatives, including a redundancy program that resulted in the elimination of around 250 jobs.
The club currently sits 14th in the Premier League, with manager Erik ten Hag facing mounting pressure after a disappointing start to the season, ahead of their crucial match against Brentford on Saturday.
