Alex Ferguson retires as Manchester United manager ... All hail the SIR

Manchester United manager Alex Ferguson is retiring after more than a quarter of a century at the helm, the soccer club announced Wednesday.

The 71-year-old Scot has managed the English club -- which is listed on the New York Stock Exchange and has millions of fans around the world -- since 1986.

Fergie Reacts During EPL match btw Man-u & Fulham. Mar 26,2012

During his 26 years as manager, Ferguson has won more than 30 trophies, including 13 league championships.

Ferguson will bow out after the club's last game of the season, an away match against West Bromwich Albion, on May 19, a statement from Manchester United said.

Before then he will have one more home game at Old Trafford Sunday, against Swansea City.

It's not clear who Manchester United will choose to step into his shoes. Ferguson will join the club's board as a director and "ambassador," Manchester United said.

Sir Alex Fergie, Pictured as new signing for Glasgow Rangers 1967

Announcing the move, Ferguson said: "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 organization in the strongest possible shape and I believe I have done so.

"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 set-up will ensure that the long-term future of the club remains a bright one."

Fergie in 1984

Ferguson paid tribute to the club's "players and staff, past and present," thanking them "for a staggering level of professional conduct and dedication that has helped to deliver so many memorable triumphs. Without their contribution the history of this great club would not be as rich."

He also expressed gratitude to his family and the club's many supporters, at home and abroad.

Fans' thoughts are bound to turn quickly to the 2013/14 season, starting in September, as the team prepares to defend its domestic title and attempt another win in Europe.

Sir Fergie applauds fans at the end of the UEFA round 16

As recently as last week, Ferguson suggested that he was fully involved in those future plans, promising the club would be "competitive" in the summer transfer market.

Speaking to Inside United, the club's official magazine, Ferguson said: "Hopefully the players we bring into the club in the next year or so will be of the quality we need."

Manchester United coasted to this year's English Premier League title with a 3-0 victory over Aston Villa in April, with four games to spare.

The Old Trafford club is owned by the American Glazer family, who oversaw the club's listing on the New York Stock Exchange last August.

For the 2011/2012 season, United increased revenues by £14.2 million to £117.6 million, the highest of any club in the Premier League.

Joel Glazer said: "Alex has proven time and time again what a fantastic manager he is but he's also a wonderful person. His determination to succeed and dedication to the Club have been truly remarkable."

David Gill, who will step down as chief executive of Manchester United in June, said it had been a "tremendous pleasure" to work alongside Ferguson over the past 16 years.

"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," he said.

"Alex's vision, energy and ability have built teams -- both on and off the pitch -- that his successor can count on as among the best and most loyal in world sport."

SOURCE - CNN SPORTs

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