Ratcliffe accused of ‘horrific mistake’ after INEOS ‘clumsily handled’ Ferguson ‘sacking’

Sir Jim Ratcliffe and INEOS have been criticized after deciding to remove Sir Alex Ferguson’s role as global ambassador to Manchester United.

It’s early this year Ratcliffe bought a 27.7% stake in the Premier League giants. As part of this deal he has taken over the football business at Old Trafford.

The British billionaire has had a hectic few months as his regime has taken measures to cut costs. Mass layoffs took place earlier this year Man Utdand recently caused a stir by removing Ferguson’s role as global ambassador.

Since his retirement in 2013, Ferguson has received around £2million a year from Man Utd for this ambassadorial role, but Earlier this month it was announced that he is the latest victim of INEOS’ ‘cost savings programme’.

A report from The Athletic revealed: ‘During a face-to-face meeting at Old Trafford, INEOS founder and CEO Sir Jim Ratcliffe told Ferguson that the club is trying to cut costs and is no longer prepared to meet its payments.

United sources – who, like everyone else in this piece, spoke anonymously due to the sensitivity of the subject – said the matter had been resolved amicably and that he would remain a non-executive director at the club and would be welcome to attend matches to live. ‘

READ: Man Utd and Ferguson’s no-brainer deserves praise as INEOS refuses to waver from unpopular but obvious call

After this decision presenter Richard Keys accused Ratcliffe of ‘murdering’ Man Utd. He said: “Fergie fired? What a small-minded way of thinking. He’s not my favorite, but he’s a living legend – the best our game has ever seen.

“He should be treated by Ratcliffe with respect – not contempt. Man Utd cost savings? Morally undermining I would say. Ratcliffe is killing the club.”

Former Everton chairman Keith Wyness believes INEOS made ‘another horrific mistake’ when they “clumsily handled” Ferguson’s departure.

“It cost around £2m a year, a deal he has had for a number of years,” Wyness said in an interview for Football Insider.

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“I’m trying to make a decision about this. If you are going to lay off 250 staff and stop lunches for temporary staff, why is it right to pay Sir Alex £2 million?

“On the other hand, it is valuable to have him available for sponsored lunches and to talk to parents of children who are about to sign as ambassadors. It still has great value.

“The most important thing was that INEOS said he is no longer allowed in the dressing room, even though he is still a non-executive director. Overall, I think it could have been handled so much better.

“I have been very critical of Ratcliffe and I will continue because Sir Alex himself could have taken a step back given his age and health.

‘That would have been the way to reduce his fees, but they have blundered into it and it is clear it is just about saving money.

“I don’t think this is an appropriate way to end Sir Alex’s association with the club. It has been handled clumsily.”