Sir Jim Ratcliffe has revealed the details of his conversation with Sir Alex Ferguson before the legendary manager was removed from his £2 million-a-year ambassador role at Manchester United.
Ratcliffe, who acquired a minority stake in the club last year, has been implementing significant cost-cutting measures at Old Trafford. These efforts have resulted in hundreds of employees being laid off, including the iconic former manager Ferguson, who had been serving as the club's global ambassador.
In a candid interview with the BBC, the British billionaire described the private meeting he had with Ferguson: "I take my hat off to Alex. I sat down with Alex, just the two of us in the room. And I said, 'Look, the club isn't where you may think it is. It is spending more than it's earning, and we're going to finish up in some difficulties. Honestly, we can't really afford to continue to pay you £2 million a year.'"
Ratcliffe continued, explaining that he left the decision to Ferguson: "I said, 'I'm going to leave it with you, let you have a think about it.' It was very grown up. Maybe a little bit grumpy at the beginning, but he got it. He came back three days later, after talking to his son, and said, 'Fine, I'm going to step away from it. My decision.'"
The INEOS owner praised Ferguson's response, adding, "I think it reflects really well on Alex because he put the club before himself."
The cost-cutting comes amid a disastrous 2024/25 campaign for Manchester United. The club has already sacked manager Erik ten Hag early in the season, with Ruben Amorim taking over the reins. However, the change has yet to yield significant improvements, as United currently languish in 14th place in the Premier League table.
Reflecting on the club's poor performances, Ratcliffe has been forthright in his assessment, admitting that some players are "overpaid" and "not good enough."
Manchester United will be back in action on Thursday when they host Real Sociedad in the second leg of their Europa League round of 16 fixture at Old Trafford, as Amorim's men look to turn their fortunes around.
