Manchester United manager Sir Alex Ferguson has announced that he will retire from the club at the end of the season after 27 years in charge.
The 71-year-old clinched his 13th Premier League title with the club last month, but that will be his last hurrah as manager of the Old Trafford club.
Speculation had been rife that the fiery Scotsman would end his long tenure at the club, but Manchester United chiefs had refused to comment.
According to UK's Daily Mail, Sir Alex said in a statement that it was important to him to leave the club in the 'strongest possible shape.
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.'
Sir Alex will remain part of the set up at Old Trafford despite stepping back from on the field matters.
He will take up a role as director and ambassador for the club when he retires after Manchester United's game with West Brom on May 18 - his 1,500th game in charge.
He said: '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.'
He paid tribute to the support of his friends, colleagues and family throughout his career, in particular his wife Cathy.
He said: '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.'
Ferguson has had a career the like of which will never be seen again.
He won his 49th trophy in United's 20th league championship and seemed set to extend his career into next season, confirming as much in his programme notes ahead of Sunday's encounter with Chelsea.
Instead, with a hip operation booked in for August, this weekend's Old Trafford encounter with Swansea, that will be followed by a trophy presentation, will be his last home game in charge.