INEOS Ends Sir Alex Ferguson's Contract

Sir Alex Ferguson, the legendary former manager of Manchester United, will no longer receive his multi-million pound ambassador contract as part of cost-cutting measures undertaken by the club's new minority owners, INEOS, led by Sir Jim Ratcliffe. Ferguson, who retired in 2013 after winning 38 trophies, has been informed that his contract will terminate at the end of the current season, ending a nearly four-decade association with the club. Although he will retain his position as a non-executive director and can still attend matches, he will not receive payments beyond this season. The decision is part of wider cuts that include the elimination of 250 jobs and other reduced expenditures at the club. The move has reportedly been handled amicably, with no hard feelings expressed by Ferguson. This significant change comes as INEOS continues to streamline operations to improve financial performance at Manchester United.