Ferguson has enjoyed huge success at Old Trafford

Sir Alex Ferguson is close to signing a new contract with Manchester United, according to reports.

The Daily Mirror newspaper claims the United boss will sign a four-year extension worth �3.5m a year.

That would make him the highest-paid manager in the world.

Ferguson has two years left on his current deal with the Premiership champions.

"We've had meetings and the club has made certain proposals for an extra two or three years," said Ferguson.

"I received all the details from my solicitor this morning and we're sorting everything out.

"It's not easy to get excited at my age, but the important thing is it's what I want to do.

It will be resolved well before the start of next season Utd finance boss Nick Humby

"I feel strong and healthy and there's no point in retiring.

"I've talked before about the mistake I made a couple of years back when I said I was going to step down.

"At some point I'm going to have to hand over to whoever replaces me.

"And when that happens, I know the club will be in fantastic shape."

On Tuesday, the club's chief executive, David Gill, revealed the club were keen to agree fresh terms with Ferguson.

Lessons learnt

Gill said: "We would like Sir Alex to continue and Sir Alex would like to continue, so we are holding discussions and I'm sure they will come to a positive conclusion."

United group financial director Nick Humby added that the club was keen to sort out the new deal as soon as possible.

"We have learned our lessons from what happened last time," said Humby.

"We will have to sit down and decide what the manager's long-term aspirations are, but it will be resolved well before the start of next season."

Ferguson has won eight league titles and the 1999 European Cup during his 16 years at the club.