Sir Alex Ferguson has announced he will step back from his ambassadorial role at Manchester United after acting as a global ambassador since his retirement.
The decision was made amicably following a conversation between Ferguson and co-owner Sir Jim Ratcliffe, amidst a cost-cutting effort at the club.
Ferguson, who enjoyed immense success with United, will always be welcome back at Old Trafford even as the club reduces its expenditure.
Manchester United is aiming to save around £10 million per year through layoffs, having recently reported a net loss of £113 million.
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