SIR Alex Ferguson today secured a lucrative new United deal that will make him £1.5m-a-year richer.

The most successful manager in Old Trafford history has signed a one-year rolling contract that will start when his current agreement runs out in the summer of 2005.

But the 62-year-old Scot is to get his pay rise immediately, putting him on an annual salary of more than £3.5m.

The arrangement does, however, not mean that United have caved into the demands of the club's largest shareholders, John Magnier and JP McManus, who are locked in a bitter battle with the club and manager.

It had been reported that the Irish racing magnates were pressurising United into the rolling deal rather than a fixed-term contract.

But - as revealed in M.E.N. Sport yesterday - the flexible contract was always the one favoured by both the United hierarchy and Ferguson, and that has formed the basis of discussions for months.

Ferguson wanted the one-year rolling deal to avoid the scenario they suffered in 2002, when United lost their focus and the title after he announced he was going to retire.

Delight

Shareholders United are delighted that Ferguson's future has been secured.

"We are pleased that Sir Alex has signed," said spokesman Sean Bones.

"We feel he deserved a three-year deal but if the manager has got the contract and he's happy then so are we.

"We just need to stand together and keep the amazing momentum going."

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