Last updated : 29 January 2004 By Editor
Club statement:

‘Manchester United is delighted to announce the completion
of formal negotiations with its manager Sir Alex Ferguson,
who has today signed a new contract with the club.

‘Sir Alex's current contract with Manchester United would
have expired on 30th June 2005 and the new contract he has
signed provides that from that date the contract will become
an open-ended one-year rolling contract.

‘Manchester United's Chief Executive, David Gill, said: "We
came up with the idea for a one-year rolling contract when
discussions first commenced in Summer 2003, because we
believe it reflects our total confidence in the manager and
also reduces speculation about his possible retirement date.

‘Sir Alex considers this arrangement to offer distinct
advantages over a long and fixed-term contract in that he
feels it will keep him even more motivated every season and
hungry for more success over the future years.

‘His fantastic record with Manchester United speaks for
itself and his appetite for the game and his desire to build
a new generation of world-class players at Old Trafford is
undiminished. He has the Board's 100% support."

‘Sir Alex said: "I'm very happy with the new contractual
arrangements. It gives me strong focus on the short-term
challenges in the new season ahead as well as the long-term
freedom to look to improve our current squad and to win
trophies both domestically and in Europe. I believe we have
a very strong squad with a nucleus of young and talented
players as well as excellent prospects in our own Academy
and that will give us an excellent foundation for success
over future years.

‘The Board and, in particular, Chief Executive David Gill
have demonstrated their confidence in me and support for my
decision making at every level. I am enjoying the job more
than ever before and I hope I can reward that confidence on
the pitch."

‘Manchester United's Chairman, Sir Roy Gardner, said: "Sir
Alex Ferguson is already established as one the greatest
football managers of all time. We are very lucky to have had
his services for the last 17 years during which time he has
been personally responsible for delivering unprecedented and
unrivalled success to this club. We have every faith in him
to carry on doing a great job for Manchester United. I have
never worked with a man with so much energy and conviction
and who commands so much respect from both footballers and
from those who help run football across the world. I am
personally delighted and proud that he has committed himself
to our club for the future."’