Manchester United are thought to have terminated Sir Alex Ferguson’s contract as the club look to cost cuts.
Ferguson was made a global club ambassador at United shortly after stepping down as manager in 2013.
He’s been a regular in the stands at Old Trafford over the years with United struggling to rediscover the kind of form they enjoyed under his stewardship.
The 82-year-old was in attendance for United’s last match away to Aston Villa with Erik ten Hag’s side drawing 0-0.
According to The Athletic, Ferguson held a meeting with the United board the following day at Old Trafford.
It’s reported that Ferguson was told in person of plans to terminate his ambassadorial contract at the end of the season.
Ferguson is said to have been earning £2.16million from the club for his role at the club.
Sir Jim Ratcliffe told Ferguson personally that United needed to reduce costs and they would no longer be able to continue his payments.
It’s claimed that Ferguson will continue as a ‘non-executive director’ and may still be seen at games beyond the end of his contract.
Ratcliffe’s decision to terminate Ferguson’s deal goes against how the Glazer family felt about keeping the legendary manager on board.
It’s reported that both Joel and Avram Glazer felt Ferguson’s legacy remains a key part of the reason they’re still one of the most marketable football clubs in the world.
Ferguson led United to 13 Premier League titles and five FA Cups along and two Champions Leagues.
He’s widely regarded as one of the best managers of all time and United’s inability to recreate his success highlights that even further.
David Moyes, Louis van Gaal, Jose Mourinho and Ole Gunnar Solskjaer have all failed to return United to their former glory days.
Ten Hag is the latest tasked with trying to get United back on top, but he’s now coming under pressure after leading the club to their worst-ever start to a Premier League season.
Ratcliffe’s decision to terminate Ferguson’s contract comes as the latest move in a long line of cost-cutting measures.
The United co-owner told United staff this past summer that he was planning to slash 250 jobs at the club.
The United employee Christmas party has also been cancelled this year with Ratcliffe keen to get a grip on the club’s spending.
