Sir Alex Ferguson will step down as Manchester United manager at the end of the season after 26 years in charge. The Scot, 71, has won 38 trophies since taking over from Ron Atkinson on 6 November 1986, including this season's Premier League title. His haul includes 13 titles, two Champions League crowns, five FA Cups and five League Cups. "The decision to retire is one that I have thought a great deal about. It is the right time," Ferguson said. "It was important to me to leave an organisation 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. "Our training facilities are amongst the finest in global sport and our home Old Trafford is rightfully regarded as one of the leading venues in the world. "Going forward, I am delighted to take on the roles of both Director and Ambassador for the club. With these activities, along with my many other interests, I am looking forward to the future. "I must pay tribute to my family, their love and support has been essential. My wife Cathy has been the key figure throughout my career, Ferguson is the most successful manager in the history of the British game and famously won a treble in 1999. He is undergoing a hip operation in the summer and that may have triggered his decision to step down. Bookmakers have made Everton manager David Moyes odds-on favourite to take over at Old Trafford. The Scot is out of contract in the summer at Goodison Park having delayed talks on a new deal until the end of the season. Ferguson gave no indication he was thinking over his future when writing Sunday's programme notes against Chelsea. He said: "I certainly don't have any plans at the moment to walk away from what I believe will be something special." But rumours of his retirement filtered out after the club's end-of-season players versus coaches golf day at Dunham Massey, Greater Manchester on Tuesday afternoon. Former Wigan manager Paul Jewell paid tribute to Ferguson's ability to deal with the pressures that come with managing United.