In a strategic move aimed at reducing expenses, Manchester United has officially ended the annual payments to legendary former manager, Sir Alex Ferguson.
The decision, reportedly made by the Ratcliffe Ineos group, marks a significant shift in the club’s financial management approach.
Sir Alex Ferguson, widely regarded as one of the greatest football managers of all time, has been receiving annual benefits from the club since his retirement in 2013.
These payments were initially approved by the Glazer family, the club’s majority owners, in recognition of his immense contributions during his time as manager.
Under his leadership, Manchester United secured 13 Premier League titles, two UEFA Champions League trophies, and numerous other domestic and international honors.
However, as the club faces increasing financial pressures, a decision was made to discontinue these payments as part of an overall cost-cutting strategy.
According to a report by The Athletic on Tuesday, Ferguson was informed of the decision by the Ratcliffe Ineos group, which is currently in discussions to take a more active role in Manchester United’s ownership.
The group highlighted the need to reduce expenses across the board.
“Ratcliffe told Ferguson that the club are seeking to reduce costs and are no longer prepared to sustain his payments. United sources said that the matter has been dealt with amicably,” the report stated.
Despite the end of his annual payments, Sir Alex Ferguson will continue to serve as a non-executive director at Manchester United. He remains an influential figure at the club and regularly attends games at Old Trafford. The decision to stop the payments does not affect his ongoing involvement in the club’s activities.
Ferguson retired as manager of Manchester United in 2013 after 26 years in charge.
His legacy remains strong, with many fans and players still revering him for the success he brought to the club. The 82-year-old has continued to support the team and remains an important ambassador for Manchester United.
