Ineos chief Sir Jim Ratcliffe has revealed how Sir Alex Ferguson reacted to the news that he would be axed from his Manchester United ambassadorial contract.
Sir Jim Ratcliffe and Ineos have been on a cost-cutting spree at Old Trafford in a bid to sustain Manchester United’s finances for their long-term ambitions.
The 72-year-old British billionaire has announced a slew of different measures at the Premier League club, including both staff redundances and axing staff meals.
Another key decision from Ratcliffe came with slashing the salaries of United ambassadors and putting to an end Sir Alex Ferguson’s contract with the club.
Ferguson, who is widely regarded as one of the best managers of all time, is set to leave his ambassadorial duties for the Premier League club at the end of the season.
The 83-year-old legendary former United manager has been an ever-present figure at Old Trafford since he called it time on his remarkable managerial career in 2013.
United lifted all of their 13 Premier League titles under Ferguson’s reign and the iconic Scotsman bowed out as the club’s manager at the end of the 2012-13 season.
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Photo by Robbie Jay Barratt - AMA/Getty Images
Photo by Robbie Jay Barratt – AMA/Getty Images
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Sir Jim Ratcliffe reveals what happened with Sir Alex Ferguson in Man Utd meeting over contract
Sir Jim Ratcliffe and Ineos made the decision last October to end the Manchester United ambassadorial contract for former manager Sir Alex Ferguson.
Ferguson will retain a seat in the directors’ box at Old Trafford, but the legendary Scot will no longer be on the payroll at United for his ambassadorial duties.
United fans were divided over the Ferguson news in 2024 amid Ineos’ brutal cuts at the Premier League club across a whole number of different areas.
Speaking to BBC Sport, Ratcliffe claimed that Ferguson might have been a “little bit grumpy at the beginning” when he heard the news about his United contract.
“I take my hat off to Alex,” he said.
“I sat down with Alex, just the two of us in the room. And I said, ‘Look, the club isn’t where you may think it is. It is spending more than it’s earning, and we’re going to finish up in some difficulties. Honestly, we can’t really afford to continue to pay you £2 million a year.’
“I said, ‘I’m going to leave it with you, let you have a think about it.’ It was very grown-up. Maybe a little bit grumpy at the beginning, but he got it.”
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Sir Alex Ferguson chatted with Darren Ferguson before returning to Sir Jim Ratcliffe
Ratcliffe revealed that Ferguson had spoken to his son Darren Ferguson, who is the manager of Peterborough United, about his United contract being axed.
Speaking on Ferguson, Ratcliffe said: “He came back three days later, after talking to his son, and said, ‘Fine, I’m going to step away from it. My decision.’”
The United co-owner added: “I think it reflects really well on Alex because he put the club before himself.”
Former United and Aberdeen boss Ferguson will be out of contract with the Red Devils at the end of the 2024-25 Premier League season.