Manchester United has ended the ambassadorial contract of legendary former manager Sir Alex Ferguson as part of a cost-cutting initiative led by co-owner Jim Ratcliffe. Ferguson, who retired in 2013 after an illustrious 26-year career with the club, had been earning approximately £2.16 million annually under the contract signed in 2013. The decision was communicated to Ferguson during a meeting at Old Trafford, where Ratcliffe expressed the need to reduce expenses.
The termination of Ferguson's contract is part of a broader restructuring at Manchester United, which has seen plans for the elimination of 250 jobs and other cost-saving measures, including cuts to staff benefits. Despite the club's record revenues, it has reported net losses for the fifth consecutive year, totaling £113.2 million for the last season, prompting the need for these financial adjustments.
Former Manchester United player Eric Cantona has publicly criticized the decision, labeling it a 'lack of respect' towards Ferguson, stating that he should be allowed to do as he pleases at the club for life. Ferguson will remain a non-executive director but will not participate in board meetings, although he can still attend matches at Old Trafford.
- The termination of Sir Alex Ferguson's ambassadorial role raises questions about the club's commitment to its history and legacy, especially given Ferguson's monumental impact on Manchester United's success. His tenure saw the club win 38 trophies, including 13 Premier League titles and two UEFA Champions League titles, establishing him as one of the most successful managers in football history.
- The recent restructuring comes amid a challenging financial landscape for Manchester United, which has faced criticism from fans regarding its management and ownership. The club's lack of success on the field, reflected in its current position in the Premier League, adds to the discontent among supporters who may view the cuts as detrimental to the club's heritage.
