Fergie set for new United deal

Manchester United are set to confirm manager Alex Ferguson has signed his new contract later today.

Ferguson’s future has been the subject of intense speculation in recent days as his legal battle with major shareholder John Magnier escalated.

A one-year rolling contract that was agreed early last month had remained unsigned, fuelling rumours that Magnier and his business partner JP McManus had put a block on the deal going through, pending a satisfactory resolution to their demands for an independent audit of all United’s recent transfer deals.

It is understood this was never the case and the Irish racehorse tycoons, who together own over a quarter of the club, were happy to let Ferguson sign his new contract.

A statement is due to be made to the Stock Exchange at some point this afternoon.

Ferguson’s current deal expires in 2005 but United bosses were eager not to find themselves in the same situation that occurred at the beginning of the 2001-02 campaign, which was supposed to be the Scot’s last.

Both Ferguson and the Old Trafford board felt on-pitch performances were affected by speculation over who would replace Britain’s most successful club boss, and the rolling contract will allow Ferguson, who took over from Ron Atkinson in November 1986, to quit at a time of his choosing.

Having delivered eight league titles, three FA Cups, a League Cup and the prized Champions League trophy to Old Trafford during his 17 years in charge, the idea that Ferguson’s future should be in doubt at all is preposterous to most observers.

However, his fierce battle with Magnier over the record-breaking stallion Rock of Gibraltar has led to a stream of adverse publicity in recent times, with official United fans organisations accusing the Irishman of a ‘dirty tricks campaign’.

Earlier this week, United confirmed finance director Nick Humby would lead an internal review of all recent transfer dealings and re-iterated that Ferguson plays no part in any financial or contractual negotiations with any players he signs.

This does not look like appeasing Magnier and McManus though. The pair are thought to be incredulous at the vast sums that have been paid to agents in recent transfer dealings, including the £750,000 (€1.08m) handed out in Louis Saha’s recent £12.825m (€18.6m) move from Fulham.

The figure appears huge considering Saha had already stated his determination to join the Red Devils, and the deals conducted last summer involving Tim Howard, Kleberson, David Bellion and Cristiano Ronaldo have also been questioned in some quarters.

The United board believe their transfer dealings are more transparent than any other football club and there is a growing feeling that Magnier in particular is merely trying to increase the pressure on Ferguson to drop his legal fight, something the manager has so far shown no intention of doing.

However, they are acutely aware that the threat of an emergency general meeting hangs over their heads unless they meet the demands of the powerful Irish duo.

It has also been suggested that the pair are not happy that record signing Rio Ferdinand will still collect his wages during his ban for a missed drugs test.

They will probably be happier to learn that United have managed to save £1.75m (€2.5m) on Ferdinand’s transfer fee, while at the same time helping Leeds out of their financial black hole.

It has been confirmed the Red Devils will pay an immediate £1.5m (€2.1m) in full and final settlement of the transfer, instead of the £3.25m (€4.7m) they would have been liable for should performances match expectation, taking the total fee paid for Ferdinand to £30.8m (€44.7m).