Sir Jim Ratcliffe has shared details about Sir Alex Ferguson’s response to the cancellation of his ambassador role at Manchester United.
The legendary former manager of the Red Devils, aged 83, was relieved of his £2 million per year position in October as part of cost-cutting measures.
Ratcliffe, 72, finalized a partial acquisition of Manchester United in 2023.
Since then, the Ineos chairman has implemented cost reductions both on and off the field, including staff redundancies over the past year.
More than 200 positions were eliminated last summer at Old Trafford, with Ratcliffe stating that the club was at risk of financial collapse by the end of 2025.
Ferguson’s well-compensated ambassadorial role, which he was granted upon his departure from the club in 2013, was among those cut.
Ferguson is celebrated as the most successful manager in football history, having secured 13 league titles with Manchester United.
Ratcliffe mentioned that he personally discussed the situation with Ferguson, explaining that the club’s financial state was not as robust as he might believe.
In an interview with the BBC, Ratcliffe commented: “I admire Alex greatly.”
“I had a private conversation with Alex, just the two of us. I told him, ‘The club’s financial situation isn’t as healthy as you might think.'”
Ratcliffe continued, “I said, ‘Frankly, we can’t justify continuing to pay you £2 million annually.'”
“I concluded by saying, ‘I’ll let you consider this and we can talk again.’ It was a very mature discussion. He was perhaps a bit displeased initially, but he understood.”
“He returned three days later, having consulted with his son, and agreed to step down, stating it was his decision.”
“I believe this reflects positively on Alex, as he prioritized the club’s needs above his own.”
Manchester United is currently struggling in the Premier League standings.
Fan protests against the club’s management occurred on Sunday before their 1-1 draw with Arsenal.
Ratcliffe also acknowledged that some players currently under contract are “not performing at the required level.”
He elaborated: “Some players are not good enough, and others are likely overpaid.”
“It will take time for us to build the squad for which we are fully accountable.”
“We are in a period of transition, moving from the past into the future.”
“There are definitely talented players in the team, as we know, and the captain is an exceptional player.”
“Bruno Fernandes is certainly essential for us; he is a fantastic footballer.”
Marcus Bellamy