Sir Alex Ferguson became the most high-profile victim of Sir Jim Ratcliffe’s ruthless cost-cutting at Man United when the club’s legendary manager lost his £2million-a-year contract as a global ambassador last October.
The decision once again demonstrated Ratcliffe’s determination to drive down costs with the club just last month announcing plans to make up to 200 more redundancies, with staff expected to learn their fate in April.
Ratcliffe informed Ferguson of his decision in a face-to-face meeting at Old Trafford, bringing to an end his 38 years as a paid employee at United after this season.
It was a brave decision from Sir Jim and not just because Sir Alex is one of the most popular and revered figures in Man United’s history, having won 38 trophies in his 26 years as manager.
The Scot, 83, is not a man to cross lightly and is renowned for giving the ‘hairdryer treatment’ to those who vex him.
And now, Sir Jim has opened up for the first time about how that meeting with Sir Alex went.
Sir Jim Ratcliffe has opened up for the first time on his meeting with Sir Alex Ferguson (right)
Sir Alex was the last Man United manager to lift the Premier League title… back in 2013
‘I take my hat off to Alex,” Sir Jim told the BBC.
‘I sat down with Alex, just the two of us in the room, and I said “look, the club isn’t where you may think it is. It is spending more than it’s earning and we’re going to finish up in some difficulties. Honestly, we can’t really afford to continue to pay you £2 million a year”.
‘I said “I’m going to leave it with you, let you have a think about it”.
‘It was very grown up. Maybe a little bit grumpy at the beginning but he got it, and he came back three days later, after talking to his son, and said “fine, I’m going to step away from it. My decision”.
‘I think it reflects really well on Alex, because he put the club before himself.’
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