Legendary Manchester United boss Sir Alex Ferguson has resigned as the director of his personal company.

His business, ACF Sports Promotions Ltd, has accumulated £24.3m in assets and investments.

Some of those assets include a sporting memorabilia collection estimated to be worth over £2m which is on display in various museums and universities.

The business also has a £19m investment portfolio and cash reserves of £5.1m.

Ferguson had launched the company in 1983 when he was manager of Aberdeen, three years before he would go on to start his 26-year Man United reign.

His wife Lady Cathy had also served as a director until her death last year.

Latest filings to Companies House have revealed Ferguson resigned as a director on October 29.

His sons Jason and Darren, who manages Peterborough United, had resigned one day earlier.

Mark Ferguson, however, remains a director having been appointed to the company with his brothers back in November 2012.

Jason, Darren and Mark are all listed as being persons with significant control, with the three brothers having shares of 'more than 25% but not more than 50%;.

'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,' the Mirror quoted an insider as saying.

'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.'

Ferguson's decision to step down as a director comes just weeks after the legendary Man United boss was axed as a club ambassador by Ineos.

Ferguson, who won 38 trophies in 26 years, signed a deal following his retirement in 2013 to continue as a global club ambassador and director. In 2014 accounts United said Ferguson, 82, was paid £2.16m for his services.

His multi-million pound ambassadorial role was ended by the club’s new part owner INEOS, as part of a wide-ranging cost-cutting programme.

The move split opinions, with several prominent former Man United players hitting out at the decision.