Premier League: Sir Alex Ferguson to step down as manager

Sir Alex Ferguson will step down as Manchester United manager at the end of the season after no less than 26 years in charge. The 71-year old manager has won 38 trophies at Old Trafford and after stepping down will become a director and ambassador for the club. His impressive tally includes 13 Premier League titles, two Champions League trophies, 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. Everton's David Moyes is said to be the favourite to take over the job, with Jose Mourinho also being rumoured to be in contention for the job. Tributes to Ferguson have been pouring all over the internet. Prime Minister David Cameron tweeted: "Sir Alex Ferguson's achievement at #MUFC has been exceptional." Former Manchester United striker Michael Owen says Ferguson's managerial record will "surely never be eclipsed". Ferguson said he is confident his successor will take over a very strong club after winning their 20th top-flight title 17 days ago. "It was important to me to leave an organisation in the strongest possible shape and I believe I have done so," he said. "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." "I must pay tribute to my family, their love and support has been essential," Ferguson added. "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." Ferguson is the most successful manager in the history of British football and following in his footsteps will surely be a very tough task, regardless of the name of his successor. The first step would be defending the Premier League title next season and you can already bet on that at Bet365, here are the odds for the top three favourites: Manchester United - 15/8 Manchester City - 15/8 Chelsea - 3/1