In a surprising move, Manchester United is a co-owner Sir Jim Ratcliffe the legendary former manager informed Sir Alex Ferguson that his paid ambassador role will not be extended beyond the end of the current season. This decision is part of a wider cost-cutting initiative being implemented at Old Trafford.
Despite the Red Devils' continued high spending in the transfer market, which has resulted in high-profile signings such as: Joshua Zirkzee, Leny Yoro, Matthijs de Ligt And Manuel UgarteRatcliffe wants to tighten the club's purse strings in other areas.
The athlete reports that Ferguson, who led United to 13 Premier League titles and two Champions League triumphs during his 27-year reign as manager, is one of the victims of these austerity measures.
The 82-year-old Scot has served as a club ambassador since retiring in 2013, but it appears his lucrative position is no longer tenable in the current financial climate.
Although Ferguson is not an official member of United's board, his departure is still seen as a controversial move by many fans, who see him as the most iconic figure in the club's illustrious history.
The legendary manager remains a regular visitor to Old Trafford and his influence and knowledge behind the scenes has been invaluable.
As well as cutting ties with Ferguson, United is also reducing spending on directors and paid travel to events such as that FA Cup final.
The report suggests Ratcliffe does “saddened” that some long-time employees will lose their jobs as a result of these cost-cutting initiatives.
The news comes at a particularly difficult time for the club on the pitch Erik ten Hag's The team is in 14th place in the Premier League table after a dismal start to the season.
Despite investing heavily in new players, United's performances were underwhelming, leaving many fans frustrated with the team's direction.