Manchester United's decision to end Sir Alex Ferguson's ambassadorial contract has sent shockwaves through the football world, with former player Rio Ferdinand speaking out on the matter.
The move comes as part of cost-cutting measures implemented by Sir Jim Ratcliffe and INEOS, the club's new minority shareholders.
Ferguson, who had held the role since his retirement as manager in 2013, was informed of the decision in a face-to-face meeting with Ratcliffe.
The news has prompted Ferdinand to take to social media, suggesting that no one at the club is safe from potential cuts.
INEOS's cost-cutting measures at Manchester United have been extensive.
In addition to ending Ferguson's contract, the company has made several other significant cuts.
Rio Ferdinand has made his thoughts clear on the Man Utd decision
PA
In July, 250 jobs were axed across the organisation. Staff perks have also been targeted, with free travel for employees to the FA Cup final being scrapped.
Even the Christmas party for staff has been cancelled. These actions demonstrate INEOS's commitment to streamlining operations at the club.
The decision to end Ferguson's multi-million pound contract, despite his legendary status, underscores the seriousness of these cost-cutting efforts.
JUST IN: England open talks with Thomas Tuchel over vacant position
Rio Ferdinand, a former Manchester United defender, took to social media platform X to express his thoughts on Ferguson's departure.
He wrote: "If Sir Alex can be taken out, then NO ONE IS SAFE at Man Utd, anyone can get it now. Ineos sending a message to ANYONE at the club".
READ MORE: Max Verstappen speaks out on Red Bull future amid Mercedes interest
The decision to end Ferguson's contract appears to have sent a clear message about INEOS's approach to restructuring.
Despite the end of his ambassadorial role, Sir Alex Ferguson will maintain ties with Manchester United.
The 82-year-old is set to continue as a non-executive director at the club, a position that allows him to contribute to strategic decisions.
Sir Alex Ferguson has had his Man Utd contract ripped up
PA
Ferguson will also retain the privilege of attending matches, ensuring his presence at Old Trafford remains a familiar sight for fans.
However, the financial aspect of his relationship with the club will change.
LATEST SPORT NEWS:
- Ben Whittaker whisked away by security after airport fracas as injury details emerge from controversial fight
- Ronnie O'Sullivan branded a 'sell out' after opening first snooker academy in Saudi Arabia
- Frazer Clarke health update as British boxer left with jaw wired after brutal knockout loss to Fabio Wardley
Rio Ferdinand was furious with the decision to axe Sir Alex Ferguson
PA
Ferguson's current deal is set to expire at the end of this season, after which he will no longer receive payments from Manchester United.
This arrangement strikes a balance between honouring Ferguson's legacy and aligning with INEOS's new financial strategy for the club.