NEW DELHI: Alex Ferguson, the legendary former Manchester United manager, is set to leave his role as a global ambassador for the club at the end of the current season.
The 82-year-old, who won an impressive 13 Premier League titles and two Champions League crowns during his nearly 27-year tenure at Old Trafford, has been serving as an ambassador since his retirement in 2013, earning a reported £2 million-a-year ($2.6m).
The decision to part ways with Ferguson is part of a broader cost-cutting initiative implemented by INEOS, the company that acquired a minority stake in the club earlier this year and now oversees its football operations.
The Athletic reported that the decision was made amicably, and Ferguson will continue to serve as a non-executive director on the football club board.
Manchester United has been facing financial challenges, with the club posting losses of £113.2 million ($148 million) for the year ending June 30, 2024, marking their fifth consecutive year of losses.
Despite this, the club maintains that they are in compliance with the Premier League's profitability and sustainability rules. In an effort to reduce costs, United has implemented various measures, including a redundancy program that resulted in the elimination of approximately 250 jobs.
On the pitch, United has struggled in the early stages of the season, currently sitting 14th in the Premier League table. This poor start has put manager Erik ten Hag under significant pressure as the team prepares for their upcoming match against Brentford on Saturday.
