Ferdinand to leave United
Ferdinand has lost his place in the United team over the last two years due to a series of injuries and it had been widely expected the former England defender would be allowed to quit Old Trafford at the end of this season.
In a statement on his website, Ferdinand said: "I have thought long and hard over the last few months about my future, and after 12 fantastic years playing for what I regard as the best club in the world, I have decided the time is right for me to move on."
Ferdinand made his last appearance for United on Sunday when he played in their 1-1 draw at Southampton on the final day of the Premier League campaign.
His departure brings an end to a glorious 12-year stay at United, during which time he won six league titles, two League Cups, one Champions League and a Club World Cup.
Ferdinand made 454 appearances, scoring eight goals, following his then British record Â£30 million ($50 million, 36 million euros) transfer from Leeds in 2002.
The ex-England captain has no desire to retire and is now looking for a new club.
"Circumstances didn't allow for me to say goodbye the way I would have liked but I'd like to take this opportunity to thank my team-mates, staff, the club and the fans for an unbelievable 12 years that I'll never forget," Ferdinand added.
"Winning trophies I dreamed about as a kid came true at this great club.
"I am feeling fit and healthy, ready for a new challenge and looking forward to whatever the future holds for me."
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