Sir Alex Ferguson will no longer serve as an ambassador for Manchester United after the role was scrapped by INEOS, the club's minority investors, as part of a widespread cost-cutting campaign. INEOS co-founder and CEO Sir Jim Ratcliffe reportedly told Ferguson of the decision during an in-person meeting at Old Trafford,

Sir Alex Ferguson is set to step back from his ambassadorial role at Manchester United at the end of the season, a source told ESPN. The decision has been taken as part of a cost-cutting drive at the club put in place following Sir Jim Ratcliffe's purchase of a minority stake in February.

Manchester United new part-owners INEOS has continued its cost-cutting programme by ending a multi-million pound annual commitment to Sir Alex Ferguson, the most successful manager in the club’s history.