Tipster profile image
Victor Petkov
twitter iconlikedin iconlikedin icon
Head of Content authorBadge
Last Updated:

2 min read

INEOS cut Ferguson’s multi-million ambassador contract with Man Utd
google news logo Follow us
Add comment
Manchester United's part-owners continue their plan to cut costs

Manchester United’s new part-owners, INEOS, have continued their cost-cutting measures by ending a multi-million-pound annual agreement with Sir Alex Ferguson, the club’s most successful manager.

After retiring as manager in 2013, following a remarkable 26-year tenure during which he won 38 trophies, Ferguson remained with the club as a global ambassador and director. For his role, he was compensated with an annual salary.

The details of his ambassadorial duties were first disclosed in Manchester United’s 2014 accounts, which revealed that Ferguson had signed an agreement on October 17, 2013, to serve as a global ambassador. For these services, he received £2.16 million ($2.82 million) annually, a deal that persisted for over a decade.

In its effort to streamline finances, INEOS has been scrutinizing various financial commitments, including the long-standing arrangement with Ferguson. At 82, Ferguson remains a regular presence in the directors’ box at both home and away matches, despite the termination of his formal ambassadorial agreement.