FERGUSON'S TROPHY CABINET League: 1993, 1994 1996, 1999, 2000, 2001, 2003 FA Cup: 1990, 1994, 1996, 1999 League Cup: 1992 European Cup: 1999 European Cup Winners' Cup: 1991 European Super Cup: 1991 Inter-continental Cup: 1999

The deal will start in June 2005 when his present contract runs out, and should end recent speculation over his future at Old Trafford.

Ferguson said: "I'm very happy with the new contractual arrangements.

"It gives me strong focus on the short-term challenges in the new season ahead as well as the long-term freedom to look to improve our current squad."

The Old Trafford boss added his aim was "to win trophies both domestically and in Europe".

However, the deal could be seen as a triumph for John Magnier and JP McManus.

Ferguson, who has been at United since 1986, had been expected to get a lucrative new four-year contract, but that was put under threat by a recent dispute with the Irish duo.

The pair, whose Cubic Expression company own over 25% of shares in United, were reported to be unhappy with the club offering Ferguson a long deal and threatened an extraordinary general meeting.

The contract was agreed last month but had remained unsigned, fuelling speculation that Magnier and McManus had blocked it.

Ferguson snaps up Saha

But those reports appear to be unfounded, with United recently sanctioning Ferguson's �12.8m purchase of Fulham's Louis Saha

The club were keen not to see a repeat of 2001 when the uncertainty over Ferguson's future seemed to unsettle the club and they ended the season without silverware.

But Manchester United chief executive David Gill insisted the rolling deal suited all parties.

He said: "We came up with the idea for a one-year rolling contract when discussions first commenced in summer 2003.

"We believe it reflects our total confidence in the manager and also reduces speculation about his possible retirement date.

I have never worked with a man with so much energy and conviction Roy Gardner, Man Utd chairman

"Sir Alex considers this arrangement to offer distinct advantages over a long and fixed-term contract in that he feels it will keep him even more motivated every season and hungry for more success over the future years.

"His fantastic record with Manchester United speaks for itself and his appetite for the game and his desire to build a new generation of world-class players at Old Trafford is undiminished.

"He has the board's 100% support."

Ferguson took over at United after a successful eight-year spell with Aberdeen where he won three league titles, three Scottish Cups and the European Cup Winners' Cup.

United chairman Sir Roy Gardner paid tribute to the 62-year-old.

It is an absolute disgrace to offer a manager of Ferguson's stature a one-year rolling contract! From Mick NI Have your say on 606

He said: "Sir Alex Ferguson is already established as one the greatest football managers of all time.

"We are very lucky to have had his services for the last 17 years during which time he has been personally responsible for delivering unprecedented and unrivalled success to this club.

"We have every faith in him to carry on doing a great job for Manchester United.

"I have never worked with a man with so much energy and conviction and who commands so much respect from both footballers and from those who help run football across the world.

"I am personally delighted and proud that he has committed himself to our club for the future."