Manchester United have confirmed today that they are in negotiations with manager Alex Ferguson to carry on as manager of the Premiership champions. The United boss had announced his intention to retire at the end of this season but the Scot has now done a massive U-turn and approached the United board about remaining on as manager for a further two or three years. In a statement released to the Stock Exchange this morning, the club confirmed they are currently in discussions with Ferguson and his advisors about drawing up a new contract.
The statement reads: "As a result of today's press speculation, the board of Manchester United plc confirms that it was recently approached by Sir Alex Ferguson about remaining as manager of the club beyond this season. The board has entered into discussions with Sir Alex and his advisors on a new contract."
Ferguson's sudden change of heart solves United's growing problem of trying to replace their most successful manager ever this summer. Leading targets England coach Sven-Goran Eriksson, Bayern Munich's Ottmar Hitzfeld and Celtic's Martin O'Neill all ruled themselves out of the running while Roma confirmed today that Fabio Capello would honour his contract, which does not expire until the summer of 2003. United can now plan ahead if Ferguson signs a new deal and they will be in a better position to replace him when the time comes for him to retire.
It is expected that when Ferguson signs his new contract with the club, he will become the highest-paid manager in the Premiership. Last year, his salary increased to £2m for his final season in charge but this was eclipsed during the season when Arsenal's Arsene Wenger signed his new deal reported to be worth £2.5m. Ferguson is expected to ask for at least that much, if not more, to carry on as United boss.
Ferguson's decision to stay on at the club could persuade midfielder David Beckham to sign a new contract. The England captain has yet to agree terms despite nine months of negotiations and he had said he wanted to know who the new manager would be before he signed anything.
However, one player who may not be so delighted with the news that Ferguson is staying is Dwight Yorke. The United striker turned down a move to Middlesbrough last week, thus scuppering United's bid for West Ham's Paolo di Canio, and said he would prefer to bide his time hoping that he might feature in the new manager's plans. However, now that Ferguson is staying on, Yorke may have to reconsider his plans rather than sitting on the sidelines for a further two or three years.
Filed by Amanda Fennelly
