The Scot, 71, has won 38 trophies¹ for the club and will now become a director and ambassador. 

 

His haul includes 13 league titles, two Champions League crowns, five FA Cups and four League Cups. 

 

"The decision to retire is one that I have thought a great deal about. It is the right time," Ferguson said. 

 

Jose Mourinho has been installed as favourite to take over from Ferguson by bookmakers, with Everton's David Moyes and Borussia Dortmund's Jurgen Klopp also in the running. 

 

Ferguson is confident his successor will take over a club in good health after winning their 20th top-flight title 17 days ago. 

 

"It was important to me to leave an organisation² in the strongest possible shape and I believe I have done so," he said. 

 

"The quality of this league winning squad³, and the balance of ages within it, bodes⁴ 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 remains⁵ a bright one."

 

Ferguson praised the people he felt helped him build the club from a team that had not won a title for 26 years into one of the biggest in the world. 

 

"I must pay tribute to my family, their love and support has been essential," he added.

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