The eagerly awaited figure was unveiled by the Manchester United manager’s wife, Lady Cathy Ferguson.
And Ferguson, who celebrated 26 years in charge of United on November 6, joked: “Someone has to control me and she is the only one who can.
“Every Saturday morning she’s said she will come down and bow to the statue.”
But the 70-year-old added: “It’s fantastic, a really proud moment.
“Normally people die before they see their statue, so I’m out-living death!
“I’ve had an incredible journey at the club and I’ve had so many great players, some of whom are here today.
“They should build this statue for them all, because they’ve been absolutely marvellous.
“From 1986 right through to today, the players have given us enormous pleasure.
“Everyone has had a part to play, from the players to the coaching staff, medical staff and, of course, the fans.”
The entire United first-team squad were present as the statue, created by award-winning sculptor Philip Jackson, was unveiled at the Sir Alex Ferguson Stand — formerly the North Stand.
And legends of the club, including Eric Cantona, Ruud van Nistelrooy, Ole Gunnar Solskjaer, Dwight Yorke, Andy Cole, Edwin van der Sar, Peter Schmeichel and Gary and Phill Neville turned out to pay tribute to their former boss.
David Beckham and Cristiano Ronaldo were not able to attend but sent a pre-recorded message to Fergie, as did FIFA president Sepp Blatter.
Beckham said: “What an amazing day for you, your family and for the club.
“I just want to say thank you for everything you have done for me. My time at United was without doubt the highlight of my career and I cherish it.”
Ronaldo added: “You 100 per cent deserve this with what you have done.
“I wish to be there with you but my schedule is busy with games as you know.
“I hope to see you soon because I need to practice my English and not my Scottish. Thanks boss. All the best to you.”
United chief executive David Gill, adressing the crowd, said: “People can talk about many things like the hairdryer and Fergie time, but the most important thing you have brought back to this club is respect.”
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