Manchester United have officially confirmed David Moyes will manage the club from next season following the shock resignation of Sir Alex Ferguson.
The 50-year-old has signed a six-year-contract with the Old Trafford outfit and will join officially on July 1 after completing the season with Everton.
Moyes has the backing of Sir Alex Ferguson, who confirmed his retirement yesterday, and his first official game will be the Community Shield against either Manchester City or Wigan at Wembley on August 11.
Moyes said: "It's a great honour to be asked to be the next manager of Manchester United.
"I am delighted that Sir Alex saw fit to recommend me for the job. I have great respect for everything he has done and for the football club.
"I know how hard it will be to follow the best manager ever, but the opportunity to manage Manchester United isn't something that comes around very often and I'm really looking forward to taking up the post next season."
Having decided to end his near 27-year stint at United this summer, Ferguson quickly came to the conclusion his fellow countryman would be the right man to follow.
"When we discussed the candidates that we felt had the right attributes, we unanimously agreed on David Moyes," said Ferguson.
"David is a man of great integrity with a strong work ethic.
"I've admired his work for a long time and approached him as far back as 1998 to discuss the position of assistant manager here.
"He was a young man then at the start of his career and has since gone on to do a magnificent job at Everton.
"There is no question he has all the qualities we expect of a manager at this club."
A statement released by Everton this afternoon confirmed Moyes had told chairman Bill Kenwright of his desire to succeed Sir Alex Ferguson at United when he retires at the end of this season, and that he would not be extending his contract with the Goodison Park club.
The statement continued: "The chairman, on behalf of the club, would like to place on record his thanks to David for the massive contribution he has made to Everton since his arrival in March 2002.
"He has been an outstanding manager."
The statement then paid tribute to Moyes, who will remain in post for the rest of the season, before confirming the search for a successor would start now.
"During his tenure at Goodison Park, David has taken charge of the team on over 500 occasions including four European campaigns.
"His final two games as Everton manager will be the remaining Premier League matches against West Ham United and Chelsea.
"Everton officials will start the search for a replacement manager immediately."
It is anticipated United will confirm Moyes' arrival very quickly, although one club operative was too quick as the Premier League champions have already had to embarrassingly take down confirmation of Moyes' arrival as manager from their own Facebook page.
The club jumped the gun and put the information on their site, posting the message "send your personal welcome to our new manager David Moyes" to a following in excess of 33 million worldwide, before hastily taking it down.
Although the incident is amusing rather than damaging, it is unlikely to go down well with senior United executives, who are pledged to "bring fans closer to the club".
It is the second social media issue at United today given Wayne Rooney has also removed the mention to him being a Manchester United player from his Twitter feed, although it is believed that happened before news of his transfer request became public knowledge.