Ryan Giggs has signed a one-year contract extension, committing him to Manchester United until June 2011, the club have announced.
Giggs' continued excellence in a United shirt saw him named Sports Personality of the Year last week and he remains a key figure for the club despite recently turning 36.
His longevity is demonstrated by the fact that only Cesc Fabregas has more assists in the league this season and Giggs will likely be a prominent figure should United, and their midfielder, win a 12th Premier League title.
Indeed, Ferguson expects that Giggs, who made his debut against Everton back in 1991, will stay at Old Trafford beyond the duration of his new contract.
"Ryan deserves a new contract and I am sure that he will play for another two years," said Ferguson. "His form is fantastic at the moment and he is playing some of his best football."
Giggs began his career at Manchester City's school of excellence but after being recruited by Sir Alex Ferguson has proved to be one of United's all-time great players.
With over 820 appearances to his name, Giggs has transformed from a dynamic young winger to a more considered but no less influential midfielder and he retains his desire for trophies despite being the most decorated player in United's history.
"I am delighted that I have agreed one more year," Giggs said. "I am enjoying my football more than ever and I am looking forward to hopefully winning more trophies with Manchester United."