Sir Alex Ferguson makes £24million business decision ahead of 83rd birthday

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Footballing legend Sir Alex Ferguson has resigned as a director of his lucrative sports promotion firm - as the former Aberdeen manager nears his 83rd birthday.

The retired Manchester United boss ran ACF Sports Promotions Ltd with his sons. But he has left Mark, Darren and Jason at the helm of the outfit as "persons of significant control".

According to documents sent to Companies House, his sons all own "more than 25% but no more than 50%" of the business, which takes it name from the initials in his full name, Alexander Chapman Ferguson.

The move appears to signal a winding down of his business duties after handing his £24million empire to his sons. Just weeks earlier, Manchester United terminated his role as a club ambassador.

The Mirror reports an insider revealed last night: "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." Fans and former players were outraged when it was revealed Sir Alex will no longer work for United after the 2024-25 season.

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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.

His managerial career saw him with a Scottish First Division title with St Mirren, three Premier Division titles four Scottish Cups, and the European Cup Winners' Cup and the European Super Cup with Aberdeen in the 1970s and 80s.

He also won a Scottish League Cup and the now-defunct Drybrough Cup, before moving south to Manchester, where he became an Old Trafford legend. In his 27 years at the helm of the Red Devils, he won 38 pieces of silverware.

This included 13 Premier League titles, five FA Cups, and four League Cups. He also won the UEFA Champions League on two occasions, as well as being runner-up in the competition twice.

And he won two league and cup doubles, and the treble with the Champions League in 1999. As well as the European Cup Winners' Cup and European Super Cup in 1991, he won Intercontinental Cup in 1999 and the 2008 FIFA Club World Cup.

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