Sir Alex Ferguson makes key decision over £24m business – just weeks after legendary Man United boss was axed from ambassadorial role
- Ferguson stepped down as director of his company ACF Sports Promotions
- The move comes after his ambassadorial role with Man United ended
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Legendary Manchester United boss Sir Alex Ferguson has resigned as director of his personal company.
His company, ACF Sports Promotions Ltd, has amassed £24.3 million in assets and investments.
These assets include a collection of sports memorabilia estimated to be worth more than £2 million, which is on display in various museums and universities.
The company also has an investment portfolio of £19m and cash reserves of £5.1m.
Ferguson had launched the company in 1983 when he was manager of Aberdeen, three years before he began his 26-year reign at Man United.
Sir Alex Ferguson has stepped down as director of his company ACF Sports Promotions
His sons Darren (L), Mark (second from left) and Jason (right) are listed as having significant control over the company
His wife Lady Cathy was also director until her death last year.
The latest filings at Companies House show that Ferguson resigned as director on October 29.
His sons Jason and Darren, who manage Peterborough United, had resigned a day earlier.
However, Mark Ferguson remains director, having joined the company alongside his brothers in November 2012.
Jason, Darren and Mark are all listed as having significant control, with the three brothers having shares of ‘more than 25% but not more than 50%’.
“The changes in the way the company is run all indicate that Sir Alex is starting to slow down and take a back seat when it comes to his business dealings,” the spokesperson said. Mirror quoted an insider.
“And who can blame him now that he’s in his mid-eighties? The company is in poor health and in the very safe hands of his sons.’
Ferguson saw an ambassadorial role at Man United scrapped by Sir Jim Ratcliffe last month
Ferguson’s decision to step down as director comes a week after the legendary Man United boss was sacked by Ineos as club ambassador.
Ferguson, who won 38 trophies in 26 years, signed a deal after retiring in 2013 to continue as the club’s global ambassador and director. In 2014, United said Ferguson, 82, received £2.16 million for his services.
His multi-million pound ambassadorial role was ended by the club’s new co-owner INEOS as part of an extensive cost-cutting programme.
The move divided opinion, with several prominent former Man United players criticizing the decision.
