Sir Alex Ferguson had incredibly successful 'side business' alongside his Man Utd career which earned him millions

Sir Alex Ferguson had an incredibly successful side business which made him millions alongside his managerial duties at Manchester United.

After retiring in 2013 following 26 trophy-laden seasons, Ferguson became a global ambassador at United and was paid £2.16 million per year, according to 2014 accounts figures. That arrangement was recently scrapped following a face-to-face meeting with INEOS chief and shareholder Sir Jim Ratcliffe, who is implementing cost-cutting measures at the club.

Ferguson took the news well and remains a non-executive director and still able to host a table of eight in Old Trafford hospitality.

But the 13-time Premier League winner has also removed involvement from another company. According to the Mirror, Ferguson has stepped down as director of his personal company.

In 1983, while managing Aberdeen, Ferguson set up the company, called ACF Sports Promotions Ltd. It reportedly has £24.3 million in investments and assets - including an extensive £2 million memorabilia collection which has items in museums and universities.

In addition, there is also believed to be a £19m investment portfolio and cash reserves of £5.1m.

But recent filings from Companies House show that Ferguson, now 82, resigned as a director on October 29.

Wife Cathy was listed as a director until her death last year, while sons Jason, Darren and Mark became involved in November.

Image: Getty

Jason and Darren both resigned a day before their dad, with Mark remaining a director and all three still having "significant control of the business."

"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,' an insider explained, as quoted by The Mirror.

"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."