End of an Era: Sir Alex Ferguson Steps Down

Sir Alex Ferguson will step down from his role as a global ambassador for Manchester United following the end of his contract with the club's part-owners, INEOS. This comes amid broad cost-saving measures at United, as the club faces financial losses.

Manchester United legend Sir Alex Ferguson is set to step down from his duties as a global ambassador for the club, marking the end of his decade-long tenure in the role following the termination of his lucrative contract by part-owners INEOS.

Ferguson, a familiar figure in the director's box at Old Trafford, reportedly opted for an amicable exit, stepping back from his ambassadorial responsibilities at the age of 82. This move is part of a larger wave of job cuts and cost-saving measures at Manchester United, as the club continues to struggle with financial losses.

The decision has stirred controversy among former players and fans alike. Former stars Eric Cantona and Rio Ferdinand expressed their dismay, emphasizing Ferguson's irreplaceable role and legacy at the club. The development raises concerns about the future of other ambassadors, amid Manchester United's ongoing financial challenges.

(With inputs from agencies.)