Alex Ferguson insists he has no interest in returning to manage Manchester United.
With United slumped in the bottom half of the Premier League table and David Moyes under increasing pressure, it had been suggested that Ferguson might eventually be ushered out of retirement in order to salvage the situation.
However, speaking to US TV network PBS, Ferguson ruled that scenario out, and underlined his belief Moyes is the right man for the job.
"I'm not interested in managing again or getting myself worked up about Manchester United's results," said the 71-year-old.
"You would be throwing your money down the drain if you put any money on me coming back as a manager.
"United are in good hands with David Moyes. He will be fine. He's a good manager.
"I made my decision. The timing was perfect. There is no way back for me now. I've got a new life.
"I want to go to the Kentucky Derby and the US Masters, the Melbourne Cup. I want to visit vineyards in Tuscany and France."
"I'm not interested in managing again or getting myself worked up about Manchester United's results" - Alex Ferguson
In a wide-ranging hour-long interview, Ferguson, who left United in the summer after almost 27 years in charge, revealed he was asked to manage Chelsea not long after Russian Roman Abramovich bought the club.
"They used an agent to approach me when Abramovich first took over the club," he said. "And I said, 'No chance'.
"I always come back to this point - why would you leave?"
Ferguson also praised Wayne Rooney for his return to form, whilst repeating a claim the United striker's camp has always denied, namely that he asked for a transfer towards the end of last season.
The former Red Devils chief, whose autobiography is due to be released later this month, also gave an insight into the managerial techniques that brought him so much success over his long career.
"Never hold a grudge, it's very important," he said, adding: "I always say to them [the team] at half-time, the last 15 minutes - throw the kitchen sink."