Sir Alex Ferguson will leave his position as Manchester United's ambassador as INEOS continues to reduce costs.

At the conclusion of the current campaign, Sir Alex Ferguson will relinquish his position as Manchester United's ambassador.

Since assuming control of football operations when Sir Jim Ratcliffe acquired a minority position in the Premier League team, part-owner INEOS has been supervising cost-cutting initiatives.

The decision was reportedly reached peacefully, and Old Trafford will always be happy to have the iconic manager.

Ferguson, who left his position as manager of United in 2013, will turn 83 in December, and it is rumoured that he will be reducing his involvement in a variety of time-consuming duties.

After years of losses, INEOS has been implementing cost-cutting measures everywhere to safeguard United's financial condition.

During Ferguson's extraordinary 27 years as manager, United won a record 13 Premier League crowns, five FA Cups, two Champions League trophies, and four League Cups.

By the standards of the Ferguson era, the next 11 years have been dreadful for the club; in that time, five permanent managers have won just three trophies, and the team has never really challenged for the Premier League crown.

Ten Hag rejoins Manchester United despite an unclear future.

In an effort to allay rumours about his future, Erik ten Hag returned to Carrington on Monday to start his managerial training for Manchester United.

During the international break, the Dutchman was getting ready for Brentford and did not believe that his position was in danger, as Sky Sports News revealed last week.

In addition to the players not representing their nations, he received days off, which he used to spend with his family in the Netherlands.

Despite the rumours in the media about his position, Ten Hag was not nervous about the executive committee meeting that took place in London last Tuesday because he maintains an open and honest channel of communication with United's football leadership group.

Additionally, the club did not approach Thomas Tuchel, as was also revealed by Sky Sports News last week.