Sir Alex Ferguson will step down from his role as Manchester United ambassador at the end of the season.
Since retiring as manager in 2013, Ferguson has earned a multi-million pound sum from the club, serving as a global ambassador and club director. The 82-year-old has been a regular presence at games, with a reserved seat in the directors’ box.
According to club sources, Ferguson—United’s most successful manager with 13 Premier League titles, two Champions League trophies, five FA Cups, and four League Cups—will always be welcome at Old Trafford.
The decision was reached amicably following a discussion between Ferguson and co-owner Sir Jim Ratcliffe last week.
This move comes as Ratcliffe seeks to cut costs to focus more on team investment. Over 250 staff members have already been laid off, a measure expected to save the club around £10 million annually.
Last month, United reported a £113 million net loss, putting them near the Premier League’s three-year £115 million loss limit. The club remains committed to complying with financial regulations.
Currently, United sit 14th in the Premier League, with manager Erik ten Hag staying in his role ahead of Saturday’s match against Brentford, despite speculation about his future.