The deal means the 38-year-old is set to play in a 22nd season for the Old Trafford club, for whom he made his debut in March 1991.
In that time he has made a club record 898 appearances, scoring 162 goals, and won 12 Premier League titles, four FA Cups, three League Cups, two Champions Leagues, one Super Cup, an Intercontinental Cup and a FIFA Club World Cup.
United boss Sir Alex Ferguson said: "Ryan is a marvellous player. In many ways, he epitomises all my teams here at United; he has constantly re-invented himself, adapted to the changing nature of the game and retained that desire and hunger for success.
"In every training session and match, he is the example for others to follow.
"The young players in the dressing room have a great chance to learn from a player who will continue to break records that anyone in the game will find hard to beat."
Former Wales international Giggs said: "When I signed my first contract, I never thought I'd be able to play at United for 22 years but I feel good and I know I can still contribute to keeping the team pushing for honours.
"Winning the Club's 19th title was a great feeling but this club is all about what we do next and I'm really pleased I can be part of that."
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great news... had anyone played past 39 in the top division
Great signing
Still got it....nice one Ryan son. L.U.H.C..........
Cue the usual moaners i guess, the lad is doing great after all these years he is hugely important to our dressing room still providing on the pitch and i'm over the moon he has got another year. And to the moaners, you will miss him when he is gone....
Whilst wishing Giggs every success, I still think it should not be the priority for a team of Man United's calibre to renew contracts to over-age players like Giggs and Scholes. The top priority should be to settle any contract differences with our young and talented players, like Pogba. And under no circumstance should players like Pogba and Cleverly find themselves on the subs bench at the expense of ANY over-age player, whoever he may be, and whatever his track record.
Great news, although I expect Ryan to be used more sparingly for the extra year, as the most decorated player in English football history,his experience is priceless for the young players waiting on the sidelines, Giggsy , a one off we salute you.
He's good enough so he's young enough. Enough said. Brilliant news.
His experience could be vital in the run-in
Wahey! That's 2 new midfielders we have signed this season, giggs and scholes ;-)
It's sensible to keep his experience around the place. He'll play less often but his example should rub off on those who follow him. I expect he'll make the transition to coach at some point soon. Good move.
You have to say that in most games he's still doing pretty well and contributing, and he's rarely injured, so why not play on. However just because Giggs has signed for another season doesnt mean we should handle it the way we handled Scholes retirement, which was to faff about, sign nobody, complain about prices and then bring him out of retirement 6 months later. We'll have Giggs for next season, great, but we should have his replacement signed this summer. Just like we should have had Scholes replacement signed last summer.
well done Ryan. signing a new contract & hungry for more even as you approach your 900th appearance is something that young players should think about.
Great for him fully expect Scholes to also be there also pluses and minuses in the news great experience to have around the place but are they holding the others such as Pogba Cleverley back I guess time will tell but Fergie knows what he is up suppose just trust in him to hopefully keep us out of Europa league next year
Giggs is phenomenal...but does this mean yet another summer of no value in the midfielder market, ?
Age should make no difference and perhaps Giggs has the odd game in him still. Judging from his performance against Chelsea I don't see him making a huge contribution anymore, perhaps has more value from an experience and leadership perspective. I do hope it won't be at the cost of young players such as Pogba and Cleverley. There's nothing worse than a player or manager not knowing when to move on it could get embarassing.
Great news for the dressing room, the squad, and the bench. Although I would like us to stop trying to get 90 minutes out of him.
On the face of it both he and Scholes re-signing is not too bad so long as they are not going to be the regular midfielders. They should now be impact players coming off the bench but I'm not sure that will be the intention.
The downside is what they will be being paid will take out of the pot to pay other regular players, youths or signings. There's obviously a limited pot so paying these 2 older players some of the highest wages in the club (assuming that's the case) for part time work may not be the best solution.
I fully expect Scholes to sign as well.
Good news,and he will be missed when he finally retires. But it highlights our need to strengthen the midfield more when our two oustanding players are the elder statesmen and in the recent key battles, we are pitting gerrard for example against a recently retired player as our match up