As part of its ongoing cost-cutting measures, Manchester United’s new part-owners, INEOS, have ended the multi-million-pound annual payment to Sir Alex Ferguson.
After departing the club in 2013 as its greatest manager, winning 38 trophies during his 26-year reign, Ferguson was retained as a global ambassador and club director, receiving an annual salary for his role.
According to The Athletic, Sir Jim Ratcliffe of INEOS spoke with Ferguson in the directors’ box ahead of the Premier League match between Manchester United and Tottenham Hotspur at Old Trafford on January 14, 2024, in Manchester, England to inform him of the club’s decision to cut ties with him.
The Athletic further reported that Ferguson has remained a United director on the club’s football board, which has largely been a ceremonial position for some time. The board previously included Sir Bobby Charlton (until his passing in 2023), former chief executive David Gill, and non-executive director Michael Edelson. Ferguson is not part of the club’s official board, which comprises the six Glazer siblings, INEOS co-owner John Reece, INEOS Sport chairman Rob Nevin, and two independent directors, Robert Leitao and John Hooks.
