Eric Cantona criticises INEOS’s decision to sack Sir Alex Ferguson

The owners of Manchester United's Ineos have come under fire from Eric Cantona for their decision to sever Sir Alex Ferguson's £2 million-per-year deal as their club ambassador.

The action is a part of the club's behind-the-scenes cost-cutting campaign under Sir Jim Ratcliffe, the British billionaire and owner of Ineos, who also informed staff members during the course of summer that 250 positions will be eliminated across the board. Cantona, a legend of United who signed with Ferguson and assisted the team win the inaugural league trophy under the Scot during his first season, vented his displeasure on social media.

In a post on Instagram, he wrote along with the caption, “Sir Alex Ferguson should be able to do anything he wants at the club until the day he dies,” the Frenchman posted on Instagram. “Such a lack of respect. It’s totally scandalous. Sir Alex Ferguson will be my boss forever! And I throw them all in a big bag of s---!”

According to The Independent, the renowned former manager and club executives had cordial discussions, and Ferguson, 83, will continue to serve as a non-executive director at Old Trafford.

Despite investing just over £200 million on players during the offseason, United finished in eighth place last season, their lowest-ever Premier League finish, and now sit in 14th place. Ever since their under-fire Dutch head coach Erik ten Hag took over ahead of the 2022–2023 season, they have spent roughly £600 million on new players. 

Are Manchester United looking to save money?

United reported losses of £113.2 million for the fiscal year that ended on June 30, 2024, last month. However, the team maintained that they are in compliance with the Premier League's profitability and sustainability standards (PSR), which penalize violations with points.

The club has implemented several cost-cutting initiatives in an effort to place itself in a more stable financial position. In their year-end financial statements, the club stated that they expected the severance costs associated with the layoffs to be approximately £10 million.