Ferguson, the former manager of Manchester United, is leaving his position as ambassador

The most successful manager of Manchester United, Alex Ferguson, will resign from his position as a global ambassador after his multi-million-pound contract with the club’s part-owners, INEOS, was terminated.

Ferguson, who had been a regular fixture in the Old Trafford director’s box for years, agreed to become a club ambassador for United in 2013 in exchange for 2.16 million pounds ($2.82 million) annually.

A team source claimed the break was friendly and that the 82-year-old Ferguson was always welcome at Old Trafford, but it was one of several time-consuming duties he was stepping back from.

As part of cost-cutting efforts, United, which has been losing money for a while, has cut almost every employee.

Before he retired from managing in 2013, Ferguson guided United to 38 trophies, including 13 Premier League and two Champions League crowns. He will relinquish his ambassadorial responsibilities at the end of the current campaign.

Despite spending somewhat more than 200 million pounds on players during the offseason, United finished in eighth place last season, their lowest-ever Premier League finish, and now sit in 14th position.

Since their under-fire Dutch manager Erik ten Hag came over before the 2022–2023 season, they have spent over 600 million pounds on new players.

The impact of cost-cutting measures on other United ambassadors, including as former players Andy Cole, Park Ji-sung, Dwight Yorke, Denis Irwin, and Bryan Robson, is unknown.