Sir Alex Ferguson’s Man Utd ambassadorial deal axed by Ineos

Former manager has held position since his retirement in 2013 but will lose annual salary from the end of this season

Sir Alex Ferguson’s ambassadorial deal with Manchester United has been axed by Sir Jim Ratcliffe’s new part-owners Ineos in the latest cost-cutting measure at the club.
Ferguson, 82, has been a global ambassador and club director at Old Trafford since his decision to end his extraordinary 27½ year reign as manager and retire in May 2013.
The Scot – who won 13 Premier League titles and two European Cups and is the most successful manager in United’s history – has been paid an annual salary for his ambassadorial duties but will now step away from that role at the end of this season.
The only official reference to Ferguson’s services as an ambassador for United came in the club’s accounts for 2014.
Under a section about related party transactions, United said Ferguson signed an agreement on Oct. 17, 2013 – less than five months after retiring as manager – that saw him become a global ambassador on a salary of £2.16 million.
It remains to be seen if other ambassadorial roles are also affected in due course with the club-wide cuts having not gone unnoticed. Bryan Robson, Andrew Cole and Denis Irwin are among a number of former players with prominent ambassadorial roles.
The move is the latest measure by Ineos to reduce costs at a club that has posted losses for the past five consecutive seasons and has faced a fight to ensure it complies with the Premier League’s profit and sustainability rules (PSR).
Ratcliffe is understood to have informed Ferguson of the decision in a face-to-face meeting last week. Sources at United said the matter had been dealt with amicably and without acrimony. United have not commented publicly.
Ferguson has been approached for comment, but this is said to be one of a number of responsibilities he is stepping back from.
He will continue to serve as a non-executive director at United – which is mainly a ceremonial role these days – and is welcome to still attend games. Ferguson is a regular in the directors’ box at both home and away matches.
Ratcliffe has been on a drive to cut costs since acquiring a 27.7 per cent stake in United in February.
Interpath Advisory, a corporate restructuring firm, were appointed in March to see where money could be saved, with around 250 jobs being shed since.
United said in their most recent accounts that the job cuts were expected to save between £30 million and £35 million once implementation costs of £10 million had been deducted. The club said they expected to “realise these savings over fiscal years 2025 and 2026”.
Ferguson is known to have been left saddened by the wide-ranging cuts and the sight of friends and long-standing colleagues losing their jobs.
Last month, United published their accounts for last season that revealed whopping losses before tax of £130.7 million.
It means United’s losses before tax over the past three seasons have totalled £312.9 million. The club have now posted five consecutive full year losses, due in part to increased investment in the playing squad.
Premier League clubs are permitted to incur a financial loss of £105 million over a three-year period – at an average of £35 million per year – on the proviso that £90 million is covered by “secure funding” from the owner.
The club have been able to make a series of allowable deductions against those losses from investment and spending in infrastructure, women’s football, youth development, community initiatives, Covid and for depreciation.
Meanwhile, United’s embattled manager Erik ten Hag returned to work at Carrington on Monday after a short holiday in his native Netherlands during the international break.
Ten Hag is under huge pressure to arrest United’s slide after the club’s worst ever start to a Premier League season and faces Brentford at Old Trafford on Saturday.
United’s executive committee held a six-hour meeting last Tuesday amid intense scrutiny over Ten Hag’s position, but the club have so far been focusing on supporting the manager and his staff.
Ten Hag has a minor defensive crisis heading into Brentford with Harry Maguire, Leny Yoro, Noussair Mazraoui, Luke Shaw and Tyrell Malacia all sidelined.
The Dutchman has been hoping to have Shaw back after the international break, but it remains to be seen when the England left back will be fit to play again.