United has paid Ferguson millions of pounds since he retired as manager in 2013.
The 82-year-old has served as both a club director and a global ambassador during that time. He continues to sit in the directors’ box and has been a frequent visitor to games.
Ferguson will always be welcome at Old Trafford, according to club sources. The decision was made amicably after a direct discussion between the Scot and co-owner Sir Jim Ratcliffe last week. Ferguson is United’s most successful manager, having won 13 Premier League titles, two Champions Leagues, five FA Cups, and four League Cups, among other honors.
But it comes as Ratcliffe tries to cut expenses so he can put more money into the team.
The club has previously laid off more than 250 employees in an effort to save almost £10 million annually.
United reported a £113 million financial loss last month. Although the club has stated that they are dedicated to following the rules, it is reported to be near the Premier League’s £115 million three-year loss cap.
Despite heavy speculation over his future, Erik ten Hag, the manager of United, is still in his position ahead of Saturday’s match against Brentford. United is now ranked 14th in the Premier League.
