Former manager was reported to receive over £2m a year as he joined the 250 staff cut from the club payroll
Sir Jim Ratcliffe sat at the other end of the row from Sir Alex Ferguson at Villa Park on 6 October.Sir Jim Ratcliffe sat at the other end of the row from Sir Alex Ferguson at Villa Park on 6 October.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. 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.
Last month United posted losses of £113.2m for the year ending June 30, 2024 and their continued cost-cutting measures are projected to save between £40m-45m in total. The club’s summer transfer net spend was £97.7m.
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