Manchester United have reportedly ended a multi-million pound agreement with their legendary manager Sir Alex Ferguson as part of a cost cutting drive.
Ferguson become a global club ambassador and club director after stepping down as manager in 2013 after a 26-year reign.
He reportedly received £2.16million to serve as a global ambassador for the club in an agreement which has continued for over a decade.
According to the Athletic, the agreement has now been ended by the club’s minority owners Ineos.
The move comes as part of a cost-cutting driver by Sir Jim Ratcliffe since Ineos took over football operations at the Premier League giants.
The report claims Ratcliffe had told Ferguson that the club are not longer prepared to continue the payments at a face to face meeting as they seek to reduce costs.
The ending of the agreement was claimed to have been dealt with amicably, with Ferguson remaining as a non-executive director and welcome to attend matches.
Ferguson had been pictured with Man United’s hierarchy at the club’s last Premier League match before the international break against Aston Villa.
Ratcliffe was in attendance for the 0-0 draw, which came ahead of a scheduled board meeting last week.
