In a bid to streamline expenses, Manchester United have stopped the annual benefits to former manager, Sir Alex Ferguson.
The Athletic reported on Tuesday that the Ratcliffe Ineos group notified Ferguson of the resolution, attributing it to the club’s expenses reduction strategy.
However, the legendary coach is expected to continue to discharge his duties as the non-executive director, as well as attending games at the club’s home ground, Old Trafford.
“Ratcliffe told Ferguson that the club are seeking to reduce costs and are no longer prepared to sustain his payments. United sources said that the matter has been dealt with amicably”, the report said.
The Glazer family, majority owners of the Red Devils had earlier approved the payments to Ferguson, however, he admitted that the 82-year-old made indelible marks at the club.
Ferguson retired as Manchester United gaffer in 2013.
