Manchester United legend Alex Ferguson will leave his well-paid position as club ambassador at the end of the season, a source familiar with the decision told The Associated Press on Tuesday.
The source spoke anonymously because the change has not been officially announced.
Ferguson, who will turn 83 in December, had a successful ambassadorship that was worth millions of dollars. The source said his departure was “amicable” and that he will “always be welcome at Old Trafford.”
Ferguson won 13 Premier League titles with Manchester United and is considered one of the greatest managers in soccer history. He is the club’s most successful manager, having brought home 28 major trophies.
He became an ambassador after retiring in 2013, following his last league title win with the team. Financial records from 2014 indicated that United paid Ferguson 2.16 million pounds ($2.8 million at current exchange rates) for his services as a global ambassador.
His upcoming departure coincides with significant changes at the club after British billionaire Jim Ratcliffe partially bought the team in February.
Manchester United is currently undergoing a major restructuring after Ratcliffe’s $1.3 billion investment for a 27.7% stake, which has included cost-cutting measures, such as around 250 job losses.
The club recently reported losses of 113.2 million pounds ($148 million) in its latest financial statements.
Ferguson was hired by Manchester United in 1986 when the club had lost its top position in English soccer. He ended a 26-year wait for the league title in 1993 and went on to lead the team during the Premier League era until his retirement, finishing with an 11-point lead over Manchester City.
He also won two Champions League titles and achieved a remarkable treble of trophies in 1999 by leading United to victories in the Premier League, Champions League, and FA Cup.
Since retiring, he has regularly attended United games, watching the team both at home and away during a time when the club has clearly struggled on the field.
Ratcliffe took charge of United’s soccer operations as part of his minority investment. Before this, the sporting side was managed by the majority owner, the American Glazer family.
A new CEO, Omar Berrada, and sporting director, Dan Ashworth, have been appointed, while important figures from Ratcliffe’s Ineos Sport, Dave Brailsford and Jean-Claude Blanc, have joined the board. Ferguson continues to serve as a non-executive director on the board.
