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Former Manchester United manager Sir Alex Ferguson will receive the honorary freedom of Trafford borough.
Sir Alex will be formally honoured on October 14, the local council has announced.
A road near Old Trafford stadium will also be changed from Waters Reach to Sir Alex Ferguson Way in recognition of his achievements.
Sir Alex said he was "delighted to accept this honour".
Sir Alex Ferguson is set to cheer on fellow Scot Andy Murray at Wimbledon today.
The former Manchester United manager is in the royal box on centre court alongside England football manager Roy Hodgson and England Rugby Union coach Stuart Lancaster.
Murray will face Spain's Fernando Verdasco on centre court after the David Ferrer and Juan Martin del Potro match.
Manchester United said Sir Alex Ferguson's "incredible era ends with an extraordinary game" after the team drew 5-5 with West Bromwich Albion:
Manchester United manager Sir Alex Ferguson has appeared before the team's Premier League game against West Bromwich, in which will be his final match before retiring.
Sir Alex Ferguson said today's Manchester United trophy parade topped the celebrations in 1999, when the club won an unprecedented treble.
Speaking to the thousands of supporters who gathered to celebrate the club's title success, he said: "What a turnout, absolutely fantastic.
"I thought that '99 (when Manchester United won the treble) could not be beaten but you've beaten it today, absolutely fantastic.
"All of you thank you for the fantastic support, we're proud of you and the players are a magnificent bunch of lads and I hope I'm here to witness this many, many times again.
"So, well done, good luck."
Manchester United striker Wayne Rooney received a mixed reception during the club's trophy parade today.
Sir Alex Ferguson confirmed yesterday that the 27-year-old had handed in a transfer request but the club were not going to sell him.
When the striker received the trophy, the crowd reacted in a mixed fashion with some booing him and others chanting his name.
Sir Alex Ferguson thanked Manchester United fans for the rousing send-off he received yesterday, saying it was a moment he would "never forget."
Speaking at the trophy parade outside Old Trafford, he said: "This is fantastic, I'm really more pleased for you than anything else.
"We've been through a 38 week programme of the Premier Division and won it, and won it in style with a great bunch of players.
"It's a young squad, a lot of good young players and they're going to get better and the big test is to win three titles in a row, so I hope thy're going to do that.
"Yesterday was a day I'll never forget and I thank you for that, it was wonderful, all my family will never forget it, particularly my grandchildren, it'll live in their memories for many, many years."
Manchester United fans have gathered outside Old Trafford to see their team parade the Premier League trophy.