Man Utd brutally end Sir Alex Ferguson arrangement as ruthless Ratcliffe clamps down on costs

Iconic former Manchester United manager Sir Alex Ferguson will no longer be paid his multi-million-pound ambassadorial contract by the club – and Sir Jim Ratcliffe will not stop there with two more high-profile figures set to fall victim to his cost-cutting measures.

The British billionaire has taken a scythe to the club’s finances since taking sporting control of Manchester United earlier this year having bought a 27.7% stake off the Glazers in a deal worth £1.3bn. That shake-up has seen a massive rebooting of the club’s backroom and executive staff, while plans to make some 250 redundancies at the club have also been drawn up.

In addition, Ratcliffe has also shaken up the United squad, calling time on some of their high-earning, yet under-performing stars. Indeed, both Raphael Varane and Anthony Martial were shown the door at the end of last season, with the French duo having been earning an eye-watering £590,000 a week between them. The decision not to renew their deals saved United some £30.68m (€36.8m, $40m) a year.

However, the cull has now taken on a new name and arguably the biggest one yet in the form of legendary boss Ferguson. He stepped down as manager back in 2013 after a glorious 26-year stint at the helm.

Widely regarded as one of the most successful managers of all time, the 82-year-old has remained on their payroll since his retirement, collecting some £2.6m a year in an ambassadorial role.

However, The Athletic reports that, in a face-to-face meeting with the INEOS chief, Ratcliffe has now terminated Ferguson’s contract with immediate effect.

And while it has been spun in some outlets that Ferguson decided on his own accord, it’s claimed the Scot took the decision well and will also retain his position as a non-executive director. The legendary Scot will also of course continue having a guaranteed seat at every game.

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What has Ratcliffe said about Ferguson and who is next on the chopping block?

Ratcliffe will certainly be happy that Ferguson took the news well, with the British billionaire having previously spoken of his huge admiration for the United icon.

Speaking back in February as his investment into the club drew closer, Ratcliffe said: “He was the first person I met when I went up there which I think was the second week of January and I had a meeting from 9am to 10am at his house and I left at 1pm. He never stopped. He’s got a lot of experience, a lot of stories to tell and a lot of thoughts about the club.

“I don’t think he has been encouraged to get involved but he is still very thoughtful about the club and he has an immense amount of experience. He really understands the values and traditions of the club and what it’s all about. He’s still fiercely competitive, Alex Ferguson.”

However, having splashed close to £200m on new players over the summer in their first summer at the helm, INEOS and Ratcliffe know the club must run a tight ship and to ensure the club remains on the right line of Profit and Sustainability Rules (PSR).

Indeed, we understand Ratcliffe and Co are far from finished in those cost-cutting measures and the British billionaire has already earmarked the next two stars in Casemiro and Christian Eriksen as the next to leave in a further effort to save on costs.

Danish star Eriksen pockets some £150,000 a week but having slipped down the pecking order, he will be allowed to leave at the end of his contract in the summer or potentially even as soon as January if a buyer emerges.

United are also understood to be open to offers for their current top earner Casemiro, and we revealed last week that his agent has held talks with four clubs in an effort to move the Brazilian midfielder on.

New Ten Hag sack deadline and latest Man Utd transfer news

United may need to keep an eye on the pennies amid claims Erik ten Hag now has been given a new deadline by which to save his job.

The under-fire Dutchman has seemingly been given two games to save his job after a disastrous start to the season and with his successor already having been lined up.

But with the cost to axe the Dutchman likely to cost £16m, that decision to extend his contract over the summer already looks an expensive mistake by United.

Meanwhile, with speculation ramping up on potential successors, United are also being linked with a fresh move to appoint Zinedine Zidane amid reports that the Frenchman is targeting a classy LaLiga defender as his first signing.

Elsewhere, United are being linked with a double raid on Bayern Munich for two more experienced stars Leon Goretzka and Leroy Sane as Dan Ashworth looks to add more quality and depth to the squad. A deal for one of them has even been slotted to go through as soon as the January window.

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