Manchester United manager Sir Alex Ferguson announces retirement
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Sir Alex Ferguson will step down as Manchester United manager at the end of the season after 26 years in charge.
Ferguson, 71, told the club's official website: 'The decision to retire is one that I have thought a great deal about. It is the right time.
'It was important to me to leave an organisation 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.
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'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.
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'I certainly don't have any plans at the moment to walk away from what I believe will be something special.'
Bookmakers have made Everton manager David Moyes odds-on favourite to take over at Old Trafford.
• What has Ferguson brought to the game? Is he the greatest manager of all time? Who should replace him? Comment below.