Manchester United have ended their ambassador contract with club legend Sir Alex Ferguson.
With the decision, Ferguson will step down from his current ambassador role at the end of the season.
ESPN reports that this decision was made as part of a cost-cutting drive at the club, since Sir Jim Ratcliffe bought a minority stake in February.
United have also finalized redundancies of 250 staff, saving around £45m in the process.
Ferguson has been an ambassador for the club since 2013, after retiring as coach.
The 82-year-old has been seen earning more than £2million a year.
Sources insist Ferguson “will always be welcome at Old Trafford” as the decision was “amicable” and “suits both parties.”
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