Global site navigation

Ferguson to leave Man Utd ambassador role as club cuts costs
Business and Economy

Ferguson to leave Man Utd ambassador role as club cuts costs

by  AFP 1 min read
Former Manchester United manager Alex Ferguson
Former Manchester United manager Alex Ferguson. Photo: Oli SCARFF / AFP/File
Source: AFP

PAY ATTENTION: NOW You can COMMENT on our articles on the YEN website! Learn how to get started.

Alex Ferguson is leaving his reported £2 million-a-year ($2.6m) ambassador role with Manchester United at the end of the season as part of a cost-cutting exercise.

The former United manager, 82, won 13 Premier League titles and two Champions League crowns among a huge trophy haul during nearly 27 years at Old Trafford.

The Athletic reported that the decision had been made amicably, with Ferguson stepping down from the global ambassador role when the season ends.

Ferguson, a regular at matches since he stepped down in 2013, will remain a non-executive director of the football club board.

It comes as part of a wider cost-cutting exercise at United under INEOS, which has had responsibility for football operations at the club since its founder Jim Ratcliffe completed the purchase of a minority stake earlier this year.

Read also

EVs seek to regain sales momentum at Paris Motor Show

Last month United posted losses of £113.2 million ($148 million) for the year ending June 30, 2024 -- their fifth straight years of losses.

PAY ATTENTION: Follow us on Instagram - get the most important news directly in your favourite app!

But the club said they are compliant with the Premier League's profitability and sustainability rules.

United have instigated a number of cost-saving measures, including a redundancy programme that cut about 250 jobs.

They are currently 14th in the Premier League after a poor start to the season, with manager Erik ten Hag under intense pressure ahead of Saturday's game against Brentford.

Source: AFP

Authors:
AFP avatar

AFP AFP text, photo, graphic, audio or video material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. AFP news material may not be stored in whole or in part in a computer or otherwise except for personal and non-commercial use. AFP will not be held liable for any delays, inaccuracies, errors or omissions in any AFP news material or in transmission or delivery of all or any part thereof or for any damages whatsoever. As a newswire service, AFP does not obtain releases from subjects, individuals, groups or entities contained in its photographs, videos, graphics or quoted in its texts. Further, no clearance is obtained from the owners of any trademarks or copyrighted materials whose marks and materials are included in AFP material. Therefore you will be solely responsible for obtaining any and all necessary releases from whatever individuals and/or entities necessary for any uses of AFP material.

Hot: