Colin Neville of merchant bank Raine Group was quizzed on the Manchester United deal at Leaders Week in London

After 38 years, Sir Alex Ferguson will soon no longer be a paid employee of Manchester United. His role as the club’s global ambassador has apparently been curtailed. When the pair met last week, he was told by Sir Jim Ratcliffe – the part-owner responsible for the club’s day-to-day football operation – that while always welcome in the directors’

This decision comes as Ratcliffe introduces a wide variety of cost-cutting measures at Man Utd, according to a report from The Athletic.Although the Red Devils continue to spend big in the transfer

Sir Jim Ratcliffe and INEOS have made the ruthless decision to end Sir Alex Ferguson’s ambassadorial contract with Manchester United as part of cost-cutting measures at Old Trafford. The legendary Scot served as United manager for 26 years,

In February Sir Jim purchased a 27.7% stake in Manchester United from the Glazers, an American family who bought the football club in 2005. Unusually this minority share, which cost around $1.6bn, gave Sir Jim control over sporting operations.

Sir Jim Ratcliffe is being compared to detested former Newcastle United owner Mike Ashley for his Sir Alex Ferguson treatment.

Richard Keys has accused Manchester United co-owner Sir Jim Ratcliffe of "killing the club" after the decision not to renew Sir Alex Ferguson's contract as a club ambassador. Reports emerged on Tuesday that the club had made the decision to cut the £2million-per-year payments to their legendary manager from the end of the season as part of their cost-cutting exercises at the club,