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"He's put together such a great side there that I could never understand why he going to retire, particularly as he's such a great hunger and passion, that without football I don't know what he'd do.
"You might say I'm talking daft, but I admire him a great deal and people like that you can only learn from and want to beat, so personally I'm delighted he's staying on."
Ferguson, 60, was due to retire at the end of this season, but is now expected to sign a deal which will keep him at the club for another three years.