Official: Legendary Ferguson Retires from the Great Football © EuroFootball.com

Legendary Sir Alex Ferguson is stepping down from the world of football - the Scotsman who has been leading the "Man Utd" club for 26 years will officially end his impressive coaching career after this season.

The most successful coach in the country's history

The 71-year-old specialist who took over the reins of the Manchester team at the end of 1986, won a total of 38 trophies over almost three decades. Among them - thirteen English champion titles, two UEFA Champions League trophies, five Football Association (FA) Cups, and four English League Cups. He is the most successful strategist in the history of British football.

"I've been considering this step for a long time. I believe the time has come," said Ferguson. "It was important for me to leave the organization in the best possible situation, and I believe I have succeeded in doing that. The level of the team that won the Premier League title this season, the balance between young and senior players, and the exceptional focus on the development of young players lead me to believe that the future is bright."

From now on, Ferguson will work in the "Man Utd" board, as well as being the club's ambassador.

Support found in family

"I have to thank my family for their love and support, without which nothing would have been possible," added the specialist who would chew gum during matches. "My wife Cathy played a very important role in my career, providing stability and encouraging me to move forward. It's difficult to put into words."

He also thanked the fans: "Thank you. The support we received was amazing. It was an honor and privilege to lead this club."

This summer, Ferguson will undergo a club operation. It is believed that health problems are one of the main reasons that prompted this decision, as just a few weeks ago the Scotsman denied that he planned to retire and was considering plans to strengthen the team during the offseason.

Who will replace Ferguson?

The favorite of bookmakers to take over the helm of "Man Utd" is considered to be Liverpool's Everton manager David Moyes. Alongside him, Ferguson's friend Jose Mourinho, who leads Real Madrid, as well as the long-time Man Utd player Ole Gunnar Solskjaer are mentioned.

Also mentioned are Borussia Dortmund coach Jurgen Klopp, Malaga's Manuel Pellegrini, and the candidacy of Ferguson's assistants Mike Phelan and Rene Meulensteen.

More about this: Five candidates: who will replace Ferguson?