Former manager was reported to receive over £2m a yearSir Jim Ratcliffe’s Ineos have cut 250 staff from payroll
The latest victim of the Ineos-led economy drive at Manchester United is none other than Sir Alex Ferguson. Since his appointment as a club ambassador in 2013, after stepping down as manager, Ferguson has been the recipient of lucrative stipend, with company accounts in 2014 showing his received £2.16m for that role.
Now, after Sir Jim Ratcliffe continues the cost-saving begun soon after his purchase of 27.7% of United last December, the club’s most successful manager has fallen victim tothe same cuts that removed 250 staff from the United payroll during the summer, as first reported by The Athletic. It is understood Ferguson reached an amicable agreement with the club to cease his ambassador duties when the current season ends. At 83 in December, and a widower after the death of his wife Lady Cathy in October 2023, the Scot is said to have been planning to step down his duties in due course.
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