Tuesday, May 4, 1999 Published at 14:59 GMT 15:59 UK
Ferguson signs new Man Utd deal
Alex Ferguson: "I am delighted the matter has been settled"
Manchester United have been given the perfect boost ahead of the European Cup final, after manager Alex Ferguson agreed a new three-year contract.
The 57-year-old Scot has been at Old Trafford since 1986 and has been the most successful English manager of the last decade, leading the club to a string of honours.
However, after weeks of negotiation he has confirmed a contract that will make him the best paid manager in the country.
He will reportedly earn £5m over the three years, which works out as £1.67m a year or £32,000 a week.
Despite the success of his teams, Ferguson's earnings have compared unfavourably with other Premier League managers like George Graham and Ruud Gullit - as well as some of his own players.
He will also be given a lucrative testimonial season, with much of the potential million-plus proceeds going to his favourite charities.
"I am delighted that the matter has been settled and that I have a contract that will take me to 60 years of age," Ferguson said in a statement issued by the club's board.
"My hunger for success remains undiminished and I will be striving to ensure that the next three years are as successful as the last 13 have been."
United's chief executive Martin Edwards described the announcement as "fantastic news" for the club and all its supporters.
"At the end of the contract Alex will have been manager for almost 16 years, a remarkable achievement in the modern game of football," Edwards said.