Alex Ferguson Steps Down as Manchester United Ambassador Amidst Club Overhaul

Alex Ferguson, revered former manager of Manchester United, will conclude his role as a club ambassador at the season's end. His departure aligns with significant changes at United following a partial buyout by billionaire Jim Ratcliffe. Despite challenges, Ferguson remains a non-executive board director.

Manchester United legend Alex Ferguson is set to step down from his position as the club's ambassador at the end of the current season, according to an anonymous source familiar with the matter, who spoke to The Associated Press. The departure is described as amicable, and Ferguson, who turns 83 in December, is said to always be welcome at Old Trafford. Ferguson, United's most decorated manager, clinched 13 Premier League titles and a total of 28 major trophies during his tenure before retiring in 2013.

This forthcoming change coincides with a transformative period for Manchester United, marked by a partial acquisition by British billionaire Jim Ratcliffe in February. Following this $1.3 billion investment for a 27.7% stake in the club, United embarked on a rigorous restructuring strategy that introduced cost-saving measures, including approximately 250 job cuts.

Ferguson's resignation comes as United reported financial losses amounting to £113.2 million. Since being appointed in 1986, Ferguson transformed a then-dormant club into a dominant force, snapping a 26-year title drought in 1993 and dominating the Premier League era up to his retirement. He continues to serve as a non-executive director on United's board, amidst ongoing structural reshuffles that include new appointments such as CEO Omar Berrada and sporting director Dan Ashworth.

(With inputs from agencies.)