Man Utd terminates ambassador contract with Sir Alex Ferguson

According to the newspaperThe AthleticOn October 15, Man Utd's decision was part of a cost-cutting campaign. The club's co-owner, billionaire Jim Ratcliffe, personally spoke and informed the 82-year-old legend of the decision.

The meeting took place in a normal atmosphere, according to British newspaper sources. Sir Alex will remain a non-executive member of the Man Utd board of directors and will be welcomed at matches.

Sir Alex led Man Utd for 27 years and won 38 titles, including two Champions Leagues and 13 Premier Leagues. Including his time leading St Mirren and Aberdeen, the Scottish legend set a record of 48 collective titles in his coaching career. Pep Guardiola is in second place, with 40 titles.

Sir Alex stopped coaching Man Utd and retired in the summer of 2013. Soon after, he signed a contract as a global ambassador, with a salary of about 2.8 million USD per year.

Ratcliffe bought a 27.7% stake in Man Utd in early 2024, before carrying out a series of behind-the-scenes restructurings. He initially recruited CEO Omar Berrada from Man City, sporting director Dan Ashworth from Newcastle and technical director Jason Wilcox from Southampton. The club then approved a spending spree of more than $250 million on players in the summer of 2024.

As well as his efforts to bolster his squad, Ratcliffe - chairman and chief executive of INEOS - has also been cutting costs at United. Last month, a source said that around 250 club staff would lose their jobs. Ratcliffe has also scrapped private transport for senior staff and reduced matchday lunch entitlements.

Man Utd have not won the Champions League or Premier League since Sir Alex retired. Their most successful manager in the past 11 years has been Jose Mourinho, with three Europa League titles, the Community Shield and the League Cup. Current boss Erik Ten Hag is close behind with the League Cup and FA Cup, but has failed miserably in major competitions. Last season, Ten Hag's men finished eighth - the club's lowest position in the Premier League history. This season, they are 14th.