Manchester United's Ferguson to retire

Posted Thursday, May 09, 2013 by YAHOO Sport

Legendary Manchester United manager Alex Ferguson announced Wednesday that he will retire at the end of the season.

Ferguson, 71, will become a club director and ambassador after the final two games of the season. Manchester United has clinched its 13th Premier League title in Ferguson's 26 years.

Everton's David Moyes is a leading candidate to replace Ferguson, the London Evening Standard reported. Moyes' contract runs out this summer with Everton.

During his storied run, Ferguson also won two Champions League titles and five FA Cups. He took over Old Trafford in 1986 and is considered the most successful manager in British soccer history.

"The decision to retire is one that I have thought a great deal about and one that I have not taken lightly," he said. "It is the right time.

"It was important to me to leave an organization 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 setup will ensure that the long-term future of the club remains a bright one."

The club is owned by the U.S.-based Glazer family.