Alex Ferguson has claimed he is staying at Manchester United for another three years because he is "not tired".
The United coach had initially thought 60 would be a good age to retire when he settled his last contract in May 1999. However, his family have persuaded him to change his mind because he is still fit and enthusiastic about the game.
Ferguson said on MUTV: "My family all felt you should only retire when you're tired and I'm not tired".
He now believes he should have waited to see how he felt closer to the time. But he said he wanted to give the club as much time as possible to line up his successor.
"I made a mistake announcing my retirement in the first place, but I did that in fairness to the club," he said. "I've changed my mind and hopefully it's the right decision".
United were due to hold a press conference later today or sometime early this week at Old Trafford to announce Ferguson's new contract.
The three-year deal will make Ferguson, who has been in charge at United since November 1986, the best-paid manager in British football, and it has been reported he will earn between £3.5 million and £4.5 million a year.
AFP