Man Utd refrain from extending Ferguson’s ambassadorship contract, hoping to cut costs after heavy losses
The Athletic, a famous sports media outlet, reported that Sir Alex Ferguson. The legendary manager of Manchester United will end his role as an ambassador for the ยูฟ่าเบท club. After the end of this season after Ineos, one of the major shareholders of the club. Which has the power to manage football, voted not to renew Fergie’s contract as a club ambassador. However, he will continue to serve as one of the club’s directors without executive power as before.
Since stepping down as manager in 2013, Ferguson has been an ambassador for the club, earning millions of pounds in compensation over the years. As well as having priority seats in the directors’ box at Old Trafford. Where he regularly attends games.
A club source revealed that the decision was reached after Ineos owner Sir Jim Ratcliffe held talks with Ferguson last week, with the club still open to welcoming the 82-year-old to Old Trafford. But the main reason for the decision to terminate his contract was to cut costs and reinvest the money elsewhere.
Ineos’ management team have already decided to cut more than 250 staff, which is expected to save the club around £10million a year. Last month, United announced a loss of £113million, putting them at risk of breaching profit and sustainability rules.
For Ferguson, he is the most successful manager in United’s history, winning 13 Premier League titles, two UEFA Champions Leagues, five FA Cups and four League Cups.