Sir Alex Ferguson will retire at the end of the season, Manchester United have confirmed.
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Manchester United chief executive David Gill has described his time with Ferguson as the "greatest experience" of his working life.
He said: "I've had the tremendous pleasure of working very closely with Alex for 16 unforgettable years - through the treble, the double, countless trophy wins and numerous signings.
"We knew that his retirement would come one day and we both have been planning for it by ensuring the quality of the squad and club structures are in first-class condition."
Manchester United joint-chairman Joel Glazer says he will cherish Ferguson's glory years, and picked out the Champions League success in 2008 as his highlight.
"Alex has proven time and time again what a fantastic manager he is but he's also a wonderful person," Glazer said.
"His determination to succeed and dedication to the club have been truly remarkable. I will always cherish the wonderful memories he has given us, like that magical night in Moscow."
United are now looking for a new manager and
Everton boss David Moyes has emerged as a frontrunner to succeed Ferguson, Sky sources understand.
Former United goalkeeper Peter Schmeichel believes Moyes could provide the stability needed when Ferguson steps down.
He said: "David Moyes has been more than a decade at Everton on limited funds and he's been doing a fantastic job. He's Scottish, he's made from the same cloth as Sir Alex."
