Manchester United boss Sir Alex Ferguson will be on a nice earner from next year with the club.

The Sun says he will be paid £2million a year to be an ambassador for Manchester United following his retirement.

That is the bumper pay package the club have agreed to make sure his standing and experience is not lost.

Fergie, 71, moves into the role as director and ambassador at the end of this season after finishing his 26½-year reign at Old Trafford.

The Scot cannot assume the duties of the new job until he has fully recovered from his hip operation this summer.

And he will stay at home instead of travelling to Australia and the Far East for pre-season tours.