Sir Alex Ferguson shows true colours as Man Utd terminate him in shock meeting

Sir Alex Ferguson has been axed from his role as a Manchester United ambassador as part of Sir Jim Ratcliffe's cost-cutting measures at the club, in a brutal move

Manchester United have terminated Sir Alex Ferguson's lucrative ambassadorial role as part of significant cost-cutting measures at the club. Ferguson, who is the most successful manager in United's history, has been receiving a multi-million pound annual contract as a club ambassador since he retired as manager in 2013.

However, he has become the most high-profile casualty of Sir Jim Ratcliffe's radical cost-cutting overhaul at United. Club insiders have confirmed that the decision to end Ferguson's ambassadorial role was made in light of Ratcliffe's extensive cuts, which have already resulted in 250 United employees losing their jobs.

It is claimed by United sources that the decision was amicably accepted by Ferguson, with no ill-feeling between him and Ratcliffe, and that the 82 year old will always be welcome at Old Trafford. It is understood that the news was communicated to Ferguson in a face-to-face meeting with the United hierarchy and that he accepted the termination of his paid role without any bitterness.

It is believed that Ferguson's United ambassadorial role is one of several time-consuming responsibilities he is stepping back from, as the Scot will turn 83 on December 31. After ending his 26-and-a-half-year reign at United, during which he won 38 trophies, including 13 Premier League titles and two Champions Leagues, Ferguson was retained as a global club ambassador and club director, for which he received a substantial salary.

A decade-old club account reveals that Ferguson became a United ambassador in October 2013, receiving £2.16million for his role, which has continued since then. Besides being an ambassador, Ferguson also serves as a director on United's football board and is a regular at both home and away games, most recently seen at the 0-0 draw against Aston Villa on October 6, reports the Mirror.

Ratcliffe, in his bid to curb perceived excesses at United, has made several changes, including withdrawing company credit cards from senior executives and causing uproar by discontinuing free travel for staff to the FA Cup final against Manchester City at Wembley last May. It's also believed that Ratcliffe has terminated a generous bonus payment scheme offering a year's salary – capped at £50,000 - to employees who have served the club for 30 years.