Sir Alex Ferguson is winding down his business duties after handing his £24million empire to his sons, ahead of turning 83.
Just weeks after Manchester United terminated his role as a club ambassador, the Old Trafford legend resigned as a director of ACF Sports Promotions Ltd.
He ran the lucrative outfit with sons Jason, Darren and Mark, who all remain at the helm of the outfit as “persons of significant control”. All three have “more than 25% but no more than 50%” stake each in the firm, according to documents sent to Companies House.
Last night, an insider revealed: “The changes in how the company is run all point to Sir Alex starting to slow down and take a back seat in regards to his business dealings. And who can blame him as he approaches his mid-80s. The company is in rude health and in the very safe hands of his sons.”
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PA)
Fans and former players were outraged when it was revealed Sir Alex will no longer work for United after the 2024-25 season. His £2.16m-a-year ambassador role was slashed as part of cost-cutting at the club. He will take an unpaid, ceremonial version of the role instead.
The decision to hand over the reins to his sons follows a series of significant personal events including the death of his beloved wife, Lady Cathy, in October last year. Sir Alex also suffered his own bout of ill health in 2018 when was hospitalised with a brain haemorrhage.
In 2020, ACF Sports Promotions Ltd, was worth £17m. Now, accounts for the firm show it had investments and assets of £24.3m for last year, up from £22.7m.
And the business has cash reserves of £5.1m, a jump from £2.8m on the previous year. The books sent to Companies House earlier in 2024 show football memorabilia assets from Fergie’s glittering career are also worth £1.9m. They are on display at both Old Trafford and the National Football Museum.
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