Sir Alex Ferguson is retiring from business after passing over his £24 million empire to his sons as he approaches the age of 83.
Just weeks after Manchester United ended his position as club ambassador, the Old Trafford great resigned as a director of ACF Sports Promotions Ltd.
He operated the successful enterprise with his sons Jason, Darren, and Mark, all of whom remain at the helm as “persons of significant control”. According to paperwork filed with Companies House, the three own “more than 25% but no more than 50%” of the company.
Last night, a source revealed: “The changes in how the company is run all point to Sir Alex beginning to slow down and take a back seat in terms of his business dealings.” And who can blame him as he nears his mid-80s? The company is in good shape and in the capable hands of his sons.”
Fans and former players were angry when Sir Alex confirmed he will leave United following the 2024-25 season. His £2.16 million-per-year ambassador job was reduced as part of the club’s cost-cutting measures. Instead, he will take on an unpaid ceremonial position.
The decision to pass over the reins to his sons comes after a number of momentous personal events, including the death of his beloved wife, Lady Cathy, in October of last year. Sir Alex experienced his own episode of illness in 2018, when he was hospitalized with a brain hemorrhage.
In 2020, ACF Sports Promotions Ltd was worth £17 million. The firm’s filings now show that its investments and assets were £24.3 million last year, up from £22.7 million the previous year.
Furthermore, the company’s cash reserves have increased to £5.1 million, up from £2.8 million last year. The documents submitted to Companies House earlier in 2024 show that football memorabilia from Fergie’s glittering career is also worth £1.9 million. They’re on display at both Old Trafford and the National Football Museum.
