Official announcement from Manchester United or news reports

Manchester United Ends Sir Alex Ferguson's £2.16m Ambassadorial Contract Amid INEOS Cost-Cutting

Oct 15, 2024, 09:44 AM

Manchester United's new part-owners, INEOS, have decided to end Sir Alex Ferguson's multi-million-pound annual ambassadorial contract as part of a cost-cutting initiative. Ferguson, who has served as a global ambassador for the club since stepping down as manager in 2013, was informed of the decision by Sir Jim Ratcliffe in a face-to-face meeting at Old Trafford. The contract termination, which will take effect at the end of the season, marks a significant shift in the club's financial strategy. Despite the termination of his ambassadorial role, Ferguson will remain a non-executive director at Manchester United and is still welcome to attend games. The Glazers, previous owners, had continued the payments in recognition of Ferguson's contributions to the club's revenue and legacy. Ferguson's ambassadorial role had been compensated at £2.16m per year.