Man Utd ‘STOP paying Sir Alex Ferguson’s multi-million pound salary’ as Sir Jim Ratcliffe cuts costs
MANCHESTER UNITED have stopped paying legendary manager Sir Alex Ferguson's £2million-a-year salary, according to reports.
Red Devils co-owner Sir Jim Ratcliffe has cut costs by removing Fergie from his ambassadorial role.
He will still act as a non-executive member of the board and be welcome at games.
Ferguson, 82, won 38 trophies including 13 Premier League titles and two Champions Leagues during his 27 years as Man Utd manager.
Just five months after leaving in 2013, he signed a deal to become a global ambassador worth £2.16m per year.
Now The Athletic understand that deal has been torn up.
It is claimed Ratcliffe met with Ferguson in person to tell him cost-cutting measures will include no longer paying him his seven-figure salary.
The decision is said to be an amicable one, with Man Utd continuing to employ him as a non-executive director.
Ferguson will not receive payments from the club beyond the end of the season.
It is the latest attempt from Ratcliffe to reduce costs after a number of other cutbacks.
CASINO SPECIAL - BEST CASINO WELCOME OFFERS
Last month, it was revealed he is letting go of 250 employees at the club.
He has also cancelled senior Man Utd staff’s private cars and reduced lunch privileges on match-days.
THIS IS A DEVELOPING STORY..
The Sun is your go to destination for the best football, boxing and MMA news, real-life stories, jaw-dropping pictures and must-see video.Like us on Facebook at https://www.facebook.com/TheSunFootball and follow us from our main Twitter account at @TheSunFootball.