David Moyes
David Moyes is yet to agree a new deal with Everton and is out of contract in the summer of 2013. [Reuters]

Speculations have been doing the rounds as to who would replace Sir Alex Ferguson as the manager of Manchester United ever since he announced his retirement on Wednesday but it seems Everton manager David Moyes is set for the job.

It was earlier reported that Real Madrid's Jose Mourinho, Everton's David Moyes and Borussia Dortmund's Jurgen Klopp are the frontrunners to succeed Sir Alex Ferguson.

Manchester United and Everton are reportedly engaged in talks for release of David Moyes, whose contract ends this season. Official announcement is expected on Thursday but it could be extended to Friday based on the outcome of the talks.

Sir Alex Ferguson, 71, announced his retirement as the manager of Manchester United on Wednesday, ending his 27-year stint with the football club. He will hang up his boots as the club's manager after the West Bromwich Albion game on 19 May. However, his association with the club will continue as he has been made the director and ambassador of the club.

"The decision to retire is one that I have thought a great deal about and one that I have not taken lightly. It is the right time. It was important to me to leave an organisation in the strongest possible shape and I believe I have done so," said Sir Alex Ferguson in a statement.

"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."

He expressed his happiness on continuing his association with the club, though not as a manager.

"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," he said.

Ferguson thanked his family, particularly his wife Cathy, for their support.

"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, providing a bedrock of both stability and encouragement. Words are not enough to express what this has meant to me," he said.

"As for my players and staff, past and present, I would like to thank them all for a staggering level of professional conduct and dedication that has helped to deliver so many memorable triumphs. Without their contribution the history of this great club would not be as rich."

He went on to thank the board members of the club for their consistent support throughout his career as Manchester United manager.

"In my early years, the backing of the board, and Sir Bobby Charlton in particular, gave me the confidence and time to build a football club, rather than just a football team. Over the past decade, the Glazer family have provided me with the platform to manage Manchester United to the best of my ability and I have been extremely fortunate to have worked with a talented and trustworthy Chief Executive in David Gill. I am truly grateful to all of them."

He didn't forget to thank the fans who supported the club through thick and thin.

"To the fans, thank you. The support you have provided over the years has been truly humbling. It has been an honour and an enormous privilege to have had the opportunity to lead your club and I have treasured my time as manager of Manchester United."

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