Report: Ferguson offered record pay

Manchester United have offered coach Sir Alex Ferguson up to seven-and-a-half million pounds to stay at Old Trafford, according to reports.

United are in talks with Ferguson to reward the most successful manager of the modern era with a pay hike that will make him the highest paid boss in Premier League history, Goal.com can reveal.

Ferguson has been offered a 6.5 million-pound basic contract supplemented by up to one million pounds worth of bonuses for a trophy clean sweep.

His deal will remain on the same one-year rolling terms that he first committed himself to in 2004 but the new offer represents a 60 per cent pay rise from his current four million per year contract rising to five million pounds. The structure of the top-up bonuses would remain unaffected by the new agreement.

It has been reported that United want Ferguson to formally accept the offer by midway through 2012.

Ferguson’s pay hike will leapfrog him above Arsene Wenger to become the best paid manager in the Premier League.

The Scot was told by United chief executive David Gill last October that the Glazer family wanted to recognise his phenomenal achievements, which have included a Champions League crown and four Premier League titles since the Americans took full control of the club.

At the time the Glazers were in the dark about the United manager’s long-term plans but since making the offer to Sir Alex’s camp, he has come out publicly and said that he hopes to have three more years in charge.

“All the talk at the top of the club over the last few months has been of a three-year plan,” a United source told Goal.com.

“The Glazers were not sure of Ferguson’s plans so asked David Gill to tell him that his achievements over all these years would be recognised with a deal that would make him the best paid manager in British football.”

“There have been a few rounds of talks and the club want it sorted before his annual holiday to the south of France at the end of the season.”

“It makes good business sense for the club and the Glazers. Ferguson has always been loyal to them and they feel it is time he was rewarded for the job he has done.”

It is understood that neither party feels the need to adjust the length of his one-year rolling deal, which means that Ferguson is only entitled to 12 months’ severance pay, giving United little long-term security.