Sir Alex Ferguson to Step Down as Manchester United Ambassador
The decision comes amid cost-cutting measures by part-owner Jim Ratcliffe, ending Ferguson's £2m annual contract.
- Sir Alex Ferguson, 82, will leave his role as Manchester United's global ambassador at the end of the season.
- The move is part of cost-saving initiatives implemented by Jim Ratcliffe's INEOS following their acquisition of a 27.7% stake in the club.
- Ferguson, who managed United to 38 trophies, has been an ambassador since retiring in 2013, earning £2.16 million annually.
- Manchester United is undergoing restructuring, including 250 job cuts, to address financial losses of £113.2 million.
- Despite stepping down, Ferguson will remain a non-executive director and is welcome at Old Trafford.
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