After an unprecedented 38 years of service to Manchester United, Sir Alex Ferguson’s reign at the club has officially come to an end. The legendary manager, who led the team to unparalleled success during his tenure, will no longer be receiving compensation from the club. This surprising move marks a new chapter for both Ferguson and Manchester United, raising questions about the future direction of the iconic English football institution.
In December 2023, the purchase by the company INEOS of 27.7% of the shares of the Manchester United of the Premier League. Quickly, new investors found themselves in the red and the institution whose football team is led by Erik ten Hag ended the 2023-24 campaign with a deficit of 135 million euros. As a result, INEOS made some decisions. The most striking? Stop paying the legend’s salary Alex Ferguson.
Sir Alex Ferguson he was head coach of the Red Devils for 27 years and won 38 trophies, including 13 Premier League and two UEFA Champions League. He is the club’s greatest legend and for a decade he has held a symbolic role as a global ambassador for the institution. Now, according to the PA news agency, Ferguson he would have reached an amicable agreement with the club to cease his duties as ambassador when the season that has just begun ends.
It has been 38 years of link between the Scotsman Ferguson and United (Via: X).
The news of the agreement with Ferguson, first reported by The Athletic, is part of a wider cost-cutting exercise by United, under the direction of Ineos, the club’s new head of football operations. The club should have communicated to Ferguson, who in 1986 became coach of the football team, which could no longer maintain payments to ambassadors. The former coach, now 82 years old, had received 2.6 million euros in 2014, Last year in which your salary is recorded. Now Ferguson He will remain a non-executive director of the Board.
The Manchester United is working to reach a more sustainable financial footing and has put in place a number of savings measures, including a redundancy programme which will reduce 250 jobs in all departments until the end of August. In its year-end accounts, the club states that it expects severance payments to amount to around 12 million euros. Total savings of between €47 million and €54 million are expected, and the club expects them to have a positive impact on United’s financial results for 2025 and 2026.
People also ask:
Who is Sir Alex Ferguson?
Sir Alex Ferguson is a Scottish former professional football player and manager, widely regarded as one of the greatest managers of all time. He is best known for his 26-year tenure as manager of Manchester United, where he led the club to unprecedented success.
What did Sir Alex Ferguson win with Manchester United?
During his time at Manchester United, Ferguson won 38 trophies, including 13 Premier League titles, 5 FA Cups, 2 UEFA Champions League titles, and 1 UEFA Europa League title.
When did Sir Alex Ferguson retire?
Sir Alex Ferguson retired from management in 2013 after a successful career spanning over 40 years.
What is Sir Alex Ferguson known for?
Sir Alex Ferguson is known for his demanding management style, his ability to develop young players, and his tactical acumen. He is also known for his iconic hairdryer treatment, a practice of angrily berating his players in the dressing room.
Where is Sir Alex Ferguson now?
Sir Alex Ferguson remains a respected figure in the football world and often attends matches and events related to the sport. He is also actively involved in charitable works and continues to be a source of inspiration for aspiring coaches and players.