Sir Alex Ferguson's huge net worth after major decision over £24m business empire

Manchester United legend Sir Alex Ferguson stepped down from his official role as an ambassador for the club last month, and now the Scot has made a significant decision over his business interests.

Three weeks ago, it emerged that the 82-year-old will vacate his global ambassador role at the end of the current season following discussions with co-owner Sir Jim Ratcliffe, and will take on unpaid version instead. It's a position Ferguson has held since his retirement from the dugout in 2013, and he earned a staggering £2.165million during his first eight months as a United ambassador.

Ferguson is United's most successful manager having won 13 Premier League titles, two Champions Leagues, five FA Cups and four League Cups during his time in charge of the team. He initially became United boss in November 1986, and spent 27 years at the helm before taking a back seat 11 years ago.

READ MORE: Erik ten Hag spotted back in football just days after Manchester United sacking

READ MORE: I spoke to Ruud van Nistelrooy in an off-camera conversation at Carrington and this is what he said

According to Celebrity Net Worth, Ferguson, who also managed Aberdeen and St Mirren during his career, has a reported net worth $70m (£53.5m).

However, on Friday, it was reported by The Mirror that the former United boss is now also winding down his business duties by handing his £24m empire to his sons, ahead of turning 83 at the end of this year. Ferguson has reportedly resigned as a director of ACF Sports Promotions Ltd, with sons Jason, Darren and Mark to remain at the helm.

The company was set up by Ferguson in 1983, and uses his own initials, including his middle name 'Chapman'. As per the most recent financial reports, ACF has £24.3m in assets and investments, and owns £2m worth of football memorabilia that are on display at both Old Trafford and the National Football Museum.

An insider told The Mirror earlier this week: “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.”