INEOS Ends Ferguson’s Ambassadorial Contract
“The matter has been dealt with amicably, as Ferguson will remain a non-executive director at the club and be welcome to attend games,”
Former Manchester United Manager Sir Alex Ferguson.Photo/BBC.
By Robert Mutasi
In a major development at Manchester United, The Athletic reports that Sir Alex Ferguson’s long-standing ambassadorial contract with the club has been terminated as part of INEOS’s ongoing cost-cutting measures.
Legendary former manager Ferguson has banked around £2 million a year in this ambassadorial role for over a decade.
But INEOS, who recently acquired the majority share of Manchester United, have now pulled out of the multi-million-pound deal.
INEOS’ decision is seen as part of a big approach to cut costs within the club as they seek to streamline.
Run by British billionaire Sir Jim Ratcliffe, the company is known for its disciplined approach to finance, and this move aligns with their overall objective of ensuring financial sustainability.
Ferguson’s contract had been one of the more high-profile deals associated with the club’s off-field activities, symbolizing his enduring connection with Manchester United after retiring as manager in 2013.
It was, however, reportedly amicably settled between both parties.
Ferguson is considered one of the best managers in football history and will remain at the club as a non-executive director.
This way, he can contribute to the strategic running of the club while continuing to be present in the games-a presence very dear to the fans and officials alike.
According to a report by Adam Crafton of The Athletic, while the ambassadorial contract may be cut, Ferguson’s association with the club remains strong.
“The matter has been dealt with amicably, as Ferguson will remain a non-executive director at the club and be welcome to attend games,” Crafton wrote, reflecting the respectful approach taken in this transition.
Over the past 11 years, his ambassadorial duties involved him representing Manchester United at events and appearances throughout the football community on behalf of the club.
The mentioned number of contributions, along with his success on the pitch, having won 13 Premier League titles, two UEFA Champions League trophies, and many domestic and international honors, is bound to set him further in concrete.
It means that cost-cutting also will define the future business strategies of Manchester United under the command of INEOS.
However, strong ties between Sir Alex Ferguson and Manchester United seem set to last despite financial adjustment.
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