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Manchester United’s new part-owner, INEOS, has ended Sir Alex Ferguson’s long-standing ambassadorial role as part of its ongoing efforts to reduce costs at the club.
Sir Alex, the most successful manager in United’s history, has been serving as a global club ambassador since retiring in 2013.
INEOS, led by Sir Jim Ratcliffe, has been systematically cutting expenditures across various aspects of the club.
As per these changes, Sir Alex’s multi-million-pound annual salary for his ambassadorial services has been terminated.
However, he remains a non-executive director and will regularly attend United games.
According to The Athletic, Sir Alex’s ambassadorial contract was established shortly after he stepped down as manager.
The agreement was formalised in October 2013, with him receiving over £2 million annually for his services.
Despite this role ending, the United legend will still be welcome at the club.
Reports suggest that the decision was made amicably during a face-to-face meeting with Ratcliffe.
Ratcliffe’s cost-cutting measures have been sweeping, with consultancy firm Interpath Advisory recommending significant reductions in the club’s operational costs.
Alongside ending Sir Alex’s contract, INEOS has implemented various other cuts, including removing club credit cards for senior executives, slashing 250 jobs, and cancelling staff perks.
His role as a global ambassador may have ended, but his legacy and influence at Old Trafford will endure
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