Man Utd 'terminate Sir Alex Ferguson contract' after brutal Sir Jim Ratcliffe call

Manchester United part-owners Ineos have ended a multi-million pound ambassadorial contract with , it has been claimed.

The legendary Scot, 82, stepped down after 26 years at the helm in 2013 but penned an agreement which saw him become a global ambassador for the club soon after.

have now revealed that agreement, said to be worth seven figures and in place since October 2013, has now been terminated by Ineos.

The report outlines that Ferguson was told in a face-to-face meeting with Sir Jim Ratcliffe that the club were trying to reduce costs and that they were no longer in a position to continue paying him beyond this season.

It's claimed that sources have said the meeting was amicable and there is no issue between the club and Ferguson, who remains a non-executive director.

Ratcliffe acquired a minority stake in his boyhood club back in December and has overseen a raft of off-field changes, including a shake-up of the club's backroom structure and a number of redundancies.

He previously waxed lyrical about Ferguson, who is the most successful manager in the club's history after winning 38 trophies during his storied tenure at Old Trafford.

Speaking back in February, 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, .”

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