Ferguson, 71, will step down from the club at the end of the season, following the match against West Bromwich Albion, and will become a Manchester United director and ambassador. Announcing his decision to retire, Sir Alex said: "The decision to retire is one that I have thought a great deal about and one that I have not taken lightly. It is the right time. "It was important to me to leave an organization in the strongest possible shape and I believe I have done so. The quality of this league winning squad, and the balance of ages within it, bodes well for continued success at the highest level whilst the structure of the youth set-up will ensure that the long-term future of the club remains a bright one. "Our training facilities are amongst the finest in global sport and our home Old Trafford is rightfully regarded as one of the leading venues in the world. "Going forward, I am delighted to take on the roles of both director and ambassador for the club. With these activities, along with my many other interests, I am looking forward to the future. "I must pay tribute to my family, their love and support has been essential. My wife Cathy has been the key figure throughout my career." Who will take over? Betting companies were quick to cash in on the inevitable speculation as to who will take over from "Fergie". Paddy Power and William Hill had former Chelsea manager and current Real Madrid boss Jose Mourinho at evens, with Everton manager David Moyes at 5/4 and Borussia Dortmund manager Jurgen Klopp in third. Speculation Sir Alex, who with 49 trophies to his name is the most successful manager in British footballing history, had been subject to speculation in British newspapers on Wednesday. The reports were based on rumors that emerged at a team golf day on Tuesday. Manchester United are usually quick to shoot down stories they believe are wrong. However, the club had remained silent when the rumors emerged. As the club are listed on the New York Stock Exchange, they are obliged to announce significant news to the market. Before United floated on the stock exchange last year, their American owners, the Glazer family, warned that any change in manager could damage the club. A prospectus for the share issue said: "Any successor to our current manager may not be as successful as our current manager. A downturn in the performance of our first team could adversely affect our ability to attract and retain coaches and players." Sir Alex's future as manager had been called into question in the past. In 1989, he was expected to be sacked and in 2002 he was about to retire, but performed a last-minute U-turn. 13th title After winning his 13th Premier League title two weeks ago, Sir Alex denied he had any plans to step down. "I certainly don't have any plans at the moment to walk away from what I believe will be something special and worth being around to see," he said. However, it emerged at the weekend that the 71-year-old manager requires hip surgery. In the past he has said that only health problems would force him into retirement. United chief executive David Gill said after the latest title triumph that Ferguson had "not knocked on my door" and said he wanted to retire. However, Mr Gill did also say that any new manager would have to adapt to the existing squad and support team rather than making radical changes. "The quality of the squad, the composition of that squad, means that any new manager coming in will inherit a great squad of players," he said. "And yes he may, whenever that is ... clearly want to bring in one or two of his own people, new players. "But he won't want to change the squad wholesale because he won't be our manager. We've got to be consistent with that and that's what we are planning on." Channel4
