Alex Ferguson's Contract Terminated by Manchester United: Uncovering the Reason

Manchester United's new part-owners, INEOS, have decided to terminate a multi-million pound ambassadorial contract with legendary manager Alex Ferguson as part of the club's cost-cutting efforts. Ferguson, who is widely regarded as the most successful manager in the club's history, had been serving as a global club ambassador since stepping down as manager in 2013. During his illustrious 26-year tenure, Ferguson led Manchester United to an impressive total of 38 trophies, including 13 Premier League titles, two Champions League victories, five FA Cups, four League Cups, and numerous other honors.

According to The Athletic report, INEOS have been exhausting all avenues to reduce costs and that led them to zoom in on the club's commitment to Ferguson, who is still a regular attendee of games in the directors' box both at home and away matches.

Ferguson was told in a face-to-face meeting with Sir Jim Ratcliffe that the club were trying to reduce costs and that they were no longer in a position to continue paying him beyond this season and he will not be receiving payments from United beyond the end of the current season, the report added.

The 82-year-old, who is a huge horse racing fan, still finds the time to regularly attend United's games, including the 2024 Emirates FA Cup final win at Wembley and, most recently, United's goalless draw at Villa Park prior to the international break.