Ferguson to retire as season ends

Manchester United's managerSir Alex Ferguson has made the seismic decision to retire at the end of the season, putting down a full stop of his era at Old Trafford.He will become a director of the Red Devil instead.

Ferguson, who has been coaching United for 27 years, said in a statement on the club's official website that he believed he would leave the club in the "strongest possible shape", and switch to his new role as a director, and an ambassador for the club, before his team collecting its13th English Premier League trophy on the coming Sunday, before a league match againstWest Browmich Albion.

He paid tribute to his wife, Cathy, his family, the fans and all his players as well as Sir Bobby Charlton and the Glazer family, the owners of the club. Although Ferguson has rowed back on a retirement date before, at the end of the 2001-2002 season, this time there will be no change of mind.

The 71-year-old CBE has always said in the past that his health is the primary concern in making a decision about his future. He has a hip operation scheduled for August and has had a pacemaker fitted in the past.

He 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 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.

"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, providing a bedrock of both stability and encouragement. Words are not enough to express what this has meant to me.

"As for my players and staff, past and present, I would like to thank them all for a staggering level of professional conduct and dedication that has helped to deliver so many memorable triumphs. Without their contribution the history of this great club would not be as rich.

"In my early years, the backing of the board, and Sir Bobby Charlton in particular, gave me the confidence and time to build a football club, rather than just a football team.

"Over the past decade, the Glazer family have provided me with the platform to manage Manchester United to the best of my ability and I have been extremely fortunate to have worked with a talented and trustworthy Chief Executive in David Gill. I am truly grateful to all of them.

"To the fans, thank you. The support you have provided over the years has been truly humbling. It has been an honour and an enormous privilege to have had the opportunity to lead your club and I have treasured my time as manager of Manchester United."

His successor is yet to be announced. The two heated picks are current Real Madrid Boss Jose Morinho and his Scottish fellow David Moyes. Also tipped options are Martin O'neil, who is coaching another Premier League team Sunderland, and former United legend, defending champion of the Norwegian Premeir League Morte's managerOle Gunnar Solskjare.

Ferguson, also known as "Fergie" in short, has long been worshipped as the most successful manager of English Football, by those who are with him and against him. After Ferguson took over the team in 1986, it went on to win 13 league titles and five Football Association Cups. He also clinched the champion of European Champions League in 1999 and 2008 resepectively.

Earlier this month, According to Forbes, the club announced record profits in the third quarter, with revenue surging 29.5% to $145 million while adjusted EBITDA rose 22.5% to $39 million. The club debuted on the New York Stock Exchange in August at $14 a share and now has a market capitalization of $3.09 billion as of Tuesday’s closing share price of $18.77. United came in second on FORBES’ rankings of the

world’s most valuable soccer teams

just behind last year’s Spanish La Liga champions, Real Madrid.