Manchester United make hugely unpopular decision on Sir Alex Ferguson amid Ineos cost-cutting drive
Manchester United's minority shareholders INEOS have scrapped a multi-million pound payment to Sir Alex Ferguson as part of their ongoing cost-cutting measures.
Ferguson, who is the club's most successful manager, having led the club to 13 Premier League titles, will continue as the club's global ambassador and director.
Following his departure as United manager in 2013, Ferguson took on the role of ambassador, signing a deal worth £2.16m.
The deal continued for more than a decade alongside his duties as a director on the club's board alongside the late Sir Bobby Charlton.
In response to the news, fans wrote on social media: “Did INEOS 'fire' Fergie too?”
Another said: “Isn't this effectively his pension? He obviously won't starve, but it's pretty disgusting that it's literally bigger than the club.”
A third wrote: “Somewhat strange move.”
manchester united I insist the decision is amicable and that Ferguson will remain a non-executive director on the ceremonial 'football board' but that his paid ambassador role will end at the end of the season.
Other ambassadors include former captain Bryan Robson and former striker Andy Cole, although it is not yet known whether both will be retained.
INEOS's cost-cutting drive has been in place since it took over in the spring and has seen 250 job cuts, the removal of club credit cards and the free travel withdrawal for the staff to the FA Cup final in May.
In order to continue cutting costs, INEOS focused on the payment to Ferguson and a face-to-face meeting, Sir Jim Ratcliffe He informed the legendary coach of his intention to reduce costs and that his payments would not continue beyond the end of the current campaign.
talkSPORT understands that many of the cost-cutting measures implemented by INEOS have not been well received by long-serving members of staff.
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The Glazers, majority owners of Manchester United, were previously happy to approve payments to Ferguson after his retirement.
Sources close to Joel and Avram Glazer say they both believe the club's value is a result of Ferguson's work and legacy.
INEOS' plans to invest saved funds into playing equipment made United the second biggest spenders in the transfer market this summer.
The club's stuttering start to the campaign despite spending more than £200m on transfers during the summer window could have further financial implications.
Uncertainty remains over the boss's future Erik ten Hag and a sizeable profit is likely to be made if club bosses opt to part ways with the Dutchman.
