According to the British media Times, after being "abandoned" by Ineos, Sir Ferguson's financial situation was fine and he still had a profit of £2.7 million. It is reported that Sir Ferguson's ACF Sports Promotion Company has perf...
According to the British media Times, after being "abandoned" by Ineos, Sir Ferguson's financial situation was fine and he still had a profit of £2.7 million.
It is reported that Sir Ferguson's ACF Sports Promotion Company has performed well and its financial status is still very healthy. Sir Ferguson, 83, founded the personal company when he was Aberdeen head coach and made a profit of £2.7 million last year.
According to the annual company accounts ended June 30, 2024, ACF Sports Promotion Company currently owns £26.9 million in assets, up from £24.2 million in the previous year. The accounts show that of the £26.9 million assets, £19.1 million is used for investment, £2.7 million is deposited in the bank, and another £3.1 million is receivable, i.e. money owed by other companies or individuals.
Sir Ferguson has been serving as the club's global ambassador since resigning as head coach in 2013, receiving a salary of £2.1 million from Manchester United every year. The accounts do not specify whether the revenue will be paid directly to the company's account.
After Ineos founder Sir Ratcliff became a shareholder of the club and took control of Manchester United's operations, Sir Ferguson's Manchester United global ambassador contract was suspended in order to continue to reduce the team's operating costs.
The Glazer family had previously agreed to pay Sir Ferguson's salary, and the Glazer family believed that Manchester United's current value was largely due to Sir Ferguson's achievements and legacy. But Ratcliffe told Sir Ferguson that the club was looking to reduce costs and was ready to stop paying him.
But now Sir Ferguson's accounts seem to show that his financial status is still very healthy.
ACF Sports Promotion Company is the platform for handling Sir Ferguson's speech appointments, book publishing contracts, and any other business activities.
Sir Ferguson stepped down as director of the company in 2024 and is now managed by his son Sir Mark Ferguson. It is understood that the company has a rich collection of souvenirs worth up to £2 million and can lend items to the museum.
