- Sir Alex Ferguson had been on an annual salary of £2.16m since 2013
- Sir Jim Ratcliffe told the legendary former coach in a face-to-face meeting
- This is the latest measure in INEOS's cost-cutting measures
Manchester United's most successful manager of all time, Sir Alex Ferguson, has had his lucrative ambassadorial role with the club abruptly concluded by minority shareholders INEOS.
The incoming investors, led by British billionaire Sir Jim Ratcliffe, have embarked upon drastic cost-cutting measures since confirming their 27.7% stake in the club. Up to 250 members of non-playing staff were made redundant over the summer - an economic measure which would have only funded Mason Mount's salary for eight months.
United centre-back Jonny Evans admitted that the mass personnel overhaul was "difficult to see", but INEOS have embarked upon another structural upheaval which may prove even more controversial.
Ratcliffe told Ferguson in a face-to-face meeting that he would no longer receive an annual salary of £2.16m for his role as a club ambassador, according to The Athletic. The discussion was described as "amicable".
Ferguson spent almost 27 years at the helm of United, delivering an unrivalled 13 Premier League titles. Five months after signing off his legendary tenure as one of greatest managers in football history with another top-flight title in 2013, Ferugson was appointed as the club's global ambassador.
The seven-digit salary which Ferguson has collected for more than a decade is more than the annual wage of Nottingham Forest's manager Nuno Espirito Santo, for comparison. However, 23 United players earn more than the sum diverted to Ferguson - including third-choice goalkeeper Tom Heaton.
The 82-year-old Scot will remain a non-executive director on the club's football board - a role which The Athletic have described as "largely ceremonial".
Shortly after his stake in the club was confirmed at the start of 2024, Ratcliffe was full of praise for Ferguson, who he hailed as "the world's most iconic coach".
"He's just an essential part of that Manchester United history," Ratcliffe told the club's official website. "I mean, he has made history for Manchester United in those 27 years he was there really. And, you know, he was the greatest manager of his generation."
It remains to be seen whether Ferguson, who moved house last November shortly after the death of wife Cathy to downsize and be closer to his family, will continue to regularly attend United fixtures at Old Trafford and on the road. But the invitation is still open.
