Legendary British soccer manager Sir Alex Ferguson will step down as the boss of Manchester United later this month (May13) after 26 years in charge.
The 71 year old will leave his role as head coach of the internationally-renowned team at the end of the current season and take up a new job as the club's director.
A statement from Sir Alex reads, "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...
"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."
Sir Alex is the most successful manager in the history of British soccer and has won 38 trophies since taking over the reins of the club in 1986. He has nurtured the careers of international superstars including David Beckham, Ryan Giggs, Eric Cantona, Wayne Rooney and Cristiano Ronaldo.
Following the announcement, British Prime Minister David Cameron paid tribute to Ferguson's achievements, writing on Twitter.com, "Sir Alex Ferguson's achievement at #Mufc (Manchester United Football Club) has been exceptional. Hopefully his retirement will make life a little easier for my team."