Alex Ferguson is retiring at the end of the season, bringing a close to a trophy-filled career of more than 26 years at Manchester United that established him as the most successful coach in British football history.

"The decision to retire is one that I have thought a great deal about and one that I have not taken lightly," the 71-year-old Scotsman said in a statement on Wednesday. "It is the right time."

The club, which is owned by the American Glazer family and listed on the New York Stock Exchange, did not immediately announce a successor.

Since taking charge at Old Trafford in 1986, Ferguson has won a total of 38 trophies, including 13 Premier League championships, two Champions League titles and five FA Cups.

"It was important to me to leave an organization in the strongest possible shape and I believe I have done so," Ferguson said. "The quality of this league winning squad, and the balance of ages within it, bodes well for continued success at the highest level whilst the structure of the youth setup will ensure that the long-term future of the club remains a bright one."

Ferguson will continue to loom large at United as he will remain as a club director and ambassador.

"His contributions to Manchester United over the last 26 years have been extraordinary and, like all United fans, I want him to be a part of its future," joint chairman Avie Glazer said.

Former United striker Michael Owen said Ferguson's record "will surely never be eclipsed."

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