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INEOS Ends Sir Alex Ferguson's £2.16M Ambassador Role at Man United in Cost-Cutting Move

Oct 15, 2024, 09:26 AM

Manchester United's new part-owners, INEOS, have decided to end the multi-million-pound annual payment to Sir Alex Ferguson, who has been serving as the club's global ambassador since October 2013. The decision, part of a continued cost-cutting initiative by INEOS, means Ferguson will cease his ambassadorial duties at the end of the season. Sir Jim Ratcliffe informed Ferguson of the decision in a face-to-face meeting at Old Trafford, stating that the club is seeking to reduce costs and will no longer continue his payments. Ferguson had been receiving £2.16 million per year in his ambassadorial role. Despite agreeing to exit amicably, this was an INEOS call, whereas the previous owners, the Glazer family, had continued the payments due to Ferguson's significant contribution to the club's revenue through his legacy. Ferguson will remain a non-executive director at the club and is still welcome to attend Manchester United games.