Ferguson to leave Man Utd ambassador role as club cuts costs / Photo: Oli SCARFF - AFP/File
-
US revokes Iran oil waiver after Hormuz tanker attacks
-
Global AI industry falls short on safety, think tank warns
-
England quicks star as India suffer record 125-run T20 defeat
-
'History made': Egyptian pride despite World Cup heartbreak
-
Cardinal tipped to be pope accused of molesting several women
-
How rescuers carried out 180-hour 'miracle' amid Venezuela's ruins
-
How rescuers carried out 180-hour 'miracle' amid Venzuela's ruins
-
Victorious Belgian footballers troll Trump with YMCA dance
-
I can still win another Grand Slam, says Osaka after Wimbledon exit
-
Scotland boss Townsend expects Russell will face Springboks
-
France's Le Pen says still running for president
-
Messi inspires Argentina great escape over Egypt
-
Argentina produce epic World Cup fightback to beat Egypt, reach quarters
-
Zverev, Cobolli targeting rematch at Wimbledon
-
Canada province preparing lawsuit against OpenAI over school shooting
-
Colombia president-elect accuses outgoing leader of 'coup' plotting
-
Lidl-Trek celebrate 'perfect' day at Tour de France
-
IOC eases restrictions on Russians before 2028 LA Games as anthem, flag ban remains
-
Cavs agree on Mitchell deal as LeBron watches: report
-
Muchova ends Osaka run to reach Wimbledon semis
-
Turkish delight: Trump revels in Erdogan's lavish welcome
-
Mexico probing if US violated sovereignty in 2024 drug lord capture
-
Nigeria's Dangote confirms Lamu, Kenya for east Africa mega-refinery
-
Zverev reaches first Wimbledon quarter-final
-
Study points to likely route for Hannibal's legendary Alpine crossing
-
Nordic joy as Traeen takes yellow, Pedersen wins Tour de France 4th stage
-
Australia's Mooney back at No 1 in batting rankings after World Cup heroics
-
Electric Our Lady land: guitar made from burned Notre Dame wood
-
Traeen takes yellow, Pedersen wins Tour de France 4th stage
-
Tanker attacks send oil higher, stocks hit by AI jitters
-
UK hard-right leader Farage resigns as MP to force snap vote in finances row
-
IOC shuffle 2030 Winter Games events and promise gender parity
-
Harry Kane calls for calm after England's World Cup epic against Mexico
-
Macron says Syria must not be destabilised after bombs wound 18
-
Beleaguered Prince Harry loses lawsuit against UK tabloid
-
France's Le Pen to announce if running for president with ankle tag
-
Sinner eyes Djokovic showdown after moving into Wimbledon semis
-
France get ready to face 'lost treasure' Bouaddi in Morocco World Cup clash
-
Sinner conquers heat, sets up potential Djokovic clash at Wimbledon
-
Trump berates NATO, praises Erdogan as summit starts
-
'Veteran' Gauff completes Slam semi-final set with Wimbledon fightback
-
Blazy's Chanel fairy tale continues with whimsical couture show
-
UK hard-right leader resigns as MP to force snap vote in finances row
-
Stocks hit by AI concerns as oil rises on tanker attack
-
US trade gap in May widens to biggest in over a year
-
Prince Harry, Elton John lose case against UK tabloid
-
France's Le Pen cleared to run for president but with ankle tag
-
Serena wants to play again before US Open, says coach
-
This year's El Nino likely to become record-breaker: top expert
-
Sign of the times: Harry Styles sets record with 12-night Wembley run
Ferguson to leave Man Utd ambassador role as club cuts costs
Alex Ferguson is leaving his reported £2 million-a-year ($2.6m) ambassador role with Manchester United at the end of the season as part of a cost-cutting exercise.
The former United manager, 82, won 13 Premier League titles and two Champions League crowns among a huge trophy haul during nearly 27 years at Old Trafford.
The Athletic reported that the decision had been made amicably, with Ferguson stepping down from the global ambassador role when the season ends.
Ferguson, a regular at matches since he stepped down in 2013, will remain a non-executive director of the football club board.
It comes as part of a wider cost-cutting exercise at United under INEOS, which has had responsibility for football operations at the club since its founder Jim Ratcliffe completed the purchase of a minority stake earlier this year.
Last month United posted losses of £113.2 million ($148 million) for the year ending June 30, 2024 -- their fifth straight years of losses.
But the club said they are compliant with the Premier League's profitability and sustainability rules.
United have instigated a number of cost-saving measures, including a redundancy programme that cut about 250 jobs.
They are currently 14th in the Premier League after a poor start to the season, with manager Erik ten Hag under intense pressure ahead of Saturday's game against Brentford.
B.Torres--AT
