In a cost-cutting measure, Manchester United has ceased the annual benefits provided to former manager Sir Alex Ferguson. According to a report from The Athletic on Tuesday, the decision came from the Ratcliffe Ineos group, citing the club’s strategy to reduce expenses.
Despite the termination of these benefits, Ferguson, 82, will continue his role as a non-executive director and attend matches at Old Trafford.
“Ratcliffe told Ferguson that the club is seeking to reduce costs and are no longer prepared to sustain his payments. United sources said the matter has been handled amicably,” the report stated.
The Glazer family, majority owners of the club, had previously approved the payments, acknowledging the immense impact Ferguson had during his managerial tenure, which ended in 2013.