Such a lack of respect! Ferguson has been told that his £2m a year contract as a club ambassador will not be renewed next season!
By Jamie Braidwood, The Independent.
Lusaka, Oct. 16 – Eric Cantona has launched a stinging attack at Manchester United’s Ineos owners over their decision to terminate Sir Alex Ferguson’s £2m-a-year contract as a club ambassador.
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The move is part of the club’s cost-cutting drive behind the scenes under Ineos owner and British billionaire Sir Jim Ratcliffe, who also told staff in the summer that 250 jobs would be cut across its operations.
And United legend Cantona, who was signed by Ferguson and helped the club win their first league title under the Scot in his first season, took to social media to vent his disapproval.
“Sir Alex Ferguson should be able to do anything he wants at the club until the day he dies,” the Frenchman posted on Instagram. “Such a lack of respect. It’s totally scandalous. Sir Alex Ferguson will be my boss forever! And I throw them all in a big bag of shit!”
Ferguson, 83, will retain a role as a non-executive director at Old Trafford amid what The Independent understands were amicable talks between club officials and the legendary former manager.
United are currently in 14th place after finishing a worst-ever eighth in the Premier League last season, despite spending just over £200m on players in the close season. They have splashed out about £600m on new players since their under-fire Dutch manager Erik ten Hag took charge ahead of the 2022-23 season.
Last month United posted losses of £113.2m for the year ending June 30, 2024, but the club insisted they are compliant with the Premier League’s profitability and sustainability rules (PSR) where breaches are punishable by points deductions.
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The club are working to put themselves on a more sustainable financial footing and have instigated a number of cost-saving measures. The club said in their year-end accounts that they anticipate severance charges related to the redundancies will cost around £10m.
The cost-saving measures taken together are expected to save between £40m-45m in total and the club anticipate that will have a positive impact on United’s financial results for 2025 and 2026.
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