Sir Alex Ferguson will retire as Manchester United manager at the end of the season.

The 71-year-old has won 13 league titles and two European Cups during his 26 years in charge at Old Trafford.

"The decision to retire is one that I have thought a great deal about. It is the right time," he said.

The Scot will remain at the club in a new dual role of director and club ambassador.

His exit later this month means U's boss Chris Wilder will move up to sixth on the list of longest serving managers working in English football's top four divisions.

Ferguson's first game at Manchester United was a 2-0 defeat against Oxford United at the Manor Ground in November 1986.

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