Alex Ferguson’s 13th Premier League title as manager of Manchester United will be his last. Early on Wednesday, Manchester United, one of the world’s most successful soccer teams, announced that its leader of nearly 27 years would be retiring at the end of this season.
‘The decision to retire is one that I have thought a great deal about and one that I have not taken lightly,” said Ferguson, 71, in a statement on the club’s site. ”It is the right time.”
According to the statement, Ferguson will take on a role as a director and ambassador at United. His final game at the team’s helm will be on May 19 when his team travels to play West Bromwich Albion at the Hawthorns stadium.
Ferguson’s decision to retire comes shortly after his club reclaimed the Premier League title from rivals Manchester City last month with several games to spare before the end of the season. He will depart from his managerial role leaving the Red Devils at the top of the league and in improved financial shape.
Earlier this month, 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.
Ferguson, the longest-serving manager in Manchester United history, is also one of the most decorated managers in British soccer history. With United, he’s won the Premier League 13 times, the FA Cup five times, the League Cup four times and the European Champions League twice. The club has not yet announced a successor for the managerial role.
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,” said Ferguson.
*forbes
Good for him. He deserves it.
ReplyDeleteI'm happy for him...and sad for the man that'll take over from him. Big shoes to wear!
ReplyDeleteMmmmm! Great timing too....bowing out when the ovation is loudest. The only regret being that such awesome wealth of experience and wisdom cannot be automatically transfer unto someone else. I wish him well in his new role as director and an ambassador of united.
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