Sir Jim Ratcliffe Cuts Ferguson's £2m Role Amid Manchester United Budget Crisis

Sir Jim Ratcliffe, part-owner of Manchester United, revealed that he had to inform Sir Alex Ferguson about the termination of his £2 million-a-year ambassador role due to the club's financial struggles. Ratcliffe emphasized that United was overspending and facing potential bankruptcy, prompting significant cost-cutting measures that included job reductions and ending financial support for former players. Ferguson initially reacted grumpily but ultimately agreed to step down after considering the situation, demonstrating his commitment to the club's well-being. Ratcliffe's decisions have faced backlash from fans and former players, particularly regarding cuts to support for ex-players. Despite the controversy, Ratcliffe believes these measures are necessary for the club's survival, as Manchester United currently battles at the lower end of the Premier League standings. Ratcliffe also indicated that further job cuts might occur in the near future as part of ongoing financial adjustments.