Manchester United Ends Sir Alex Ferguson’s £2.16m Annual Deal

Manchester United has terminated its annual commitment to former manager Sir Alex Ferguson, reports The Athletic.

This decision is part of INEOS’s ongoing cost-cutting measures, led by Sir Jim Ratcliffe.

Ferguson, who managed the club for 26 years, had been receiving an annual salary of £2.16 million since his 2013 retirement. He was retained as a global club ambassador and director, but his paid role has now ended.

Ratcliffe and Ferguson held a meeting at Old Trafford to discuss the decision. Despite the change, Ferguson will remain a non-executive director and is welcome to attend games.

The move has raised concerns among former Manchester United players working with the club, who have already seen benefits like credit cards and chauffeur-driven cars removed. The restructuring efforts, which began in March, are expected to result in over 250 job losses.

Ferguson’s future attendance at games is uncertain, although the decision was reportedly made amicably.

The development raises questions about the implications for other ambassadors and former players associated with the club.