According to The Athletic, Man United have decided to terminate the club ambassador contract of the legendary Sir Alex Ferguson. This is an opinion given by the new owner INEOS, in response to the cost-cutting campaign.
Previously, Man United completed the layoff of 250 employees to save about 45 million pounds ($58.8 million).
It is known that coach Ferguson receives more than 2 million pounds per year for his role as club ambassador since 2013.
A source told ESPN that the 82-year-old "will always be welcome at Old Trafford", with the decision being made amicably and in line with both parties.
Legendary Ferguson won 13 English top-flight titles during his time in charge of the Red Devils from 1986 to 2013. He also won the Champions League in 1999 and 2008 along with nine domestic cups. To date, Ferguson remains the last manager to win the Premier League.
He has been a regular at Old Trafford for 11 years since retiring and also holds a seat on the club's ceremonial board. After turning 83 later this year, sources say Ferguson will step down from various roles to take a break. He has been a regular fixture in the directors' box at both home and away games in recent years.
