Sir Alex Ferguson will not be receiving payments for ambassadorial duties following a meeting with Sir Jim Ratcliffe.

Sir Alex Ferguson’s previous remark about Sir Jim Ratcliffe has emerged after the legendary Manchester United’s contract was ended.

Following on from his retirement in 2013, Ferguson remained involved with United as both a director and ambassador.

This meant he was paid an annual salary by the club, to the tune of £2.16 million, for his services.

Ferguson signed a deal to become a global ambassador in October 2013,

according to The Athletic, who referenced 2014 accounts under the related party transactions section.

However, on Tuesday news emerged that the 13-time Premier League winner was having his ties cut.

INEOS have decided to axe his deal due to cost-cutting measures, with Ferguson informed in a face-to-face meeting that he will not be paid beyond the current season.

But there are not believed to be any hard feelings and the matter was dealt with “amicably”.

Image: Getty

The 82-year-old was the first person Ratcliffe met when he agreed to buy his stake in United and he sat with him in the director’s box for his first game after the deal was done when United drew 2-2 with Spurs.

When the Ratcliffe investment was growing ever closer, Ferguson was asked about the prospect of the INEOS chief taking control and gave a brief but positive quote.

“I am still a director of the club and I know Jim [Ratcliffe] well,” Ferguson told Gambling Zone in November.

“We shall have to see what he does but I am optimistic.”

In February this year Ratcliffe described the Scot as “still fiercely competitive” and said he has “a lot of thoughts about the club”.

Image: Getty

Ferguson will remain a non-executive director, away from the official board – including all six Glazer siblings and INEOS chiefs John Reece and Rob Nevin.

Only last month, he did admit to “sometimes” missing the feeling management gave him – particularly big European fixtures.

He told the BBC: “I think the first year after retirement, I went to the European final and I said to [his late wife] Cathy: ‘This is what I miss — big games, the European games.’

“So then I went to most of the European finals because I find something I can relate to, something I would liked to have done every day. Because these are the big events that United should always be involved in.”