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Sir Alex Ferguson insists David Moyes is the right man for Manchester United, rules out a return to management and reveals he turned down Chelsea in 2003

Scot gave first major interview since retiring to US television on Tuesday night

Despite Manchester United suffering their worst start to a season in 24 years, Sir Alex Ferguson has given his full backing to successor David Moyes, saying that the Premier League champions are in “good hands” with Moyes at the helm.

Speaking to Charlie Rose on American television station PBS in his first major interview since retiring, the Scot, who said he has no desire to manage again, also revealed that he was approached by Roman Abramovich about becoming Chelsea coach in 2003, and his response to the Russian billionaire: "No Chance".

"United are in good hands with David Moyes," the 71-year-old said. "He will be fine. He's a good manager."

United may have lost three of their first six league matches this season, but Ferguson says he is not interested in returning to management, even if the poor start continues.

"I'm not interested in managing again or getting myself worked up about Manchester United's results.

"You would be throwing your money down the drain if you put any money on me coming back as a manager.

Ferguson claims he is enjoying his time away from the everyday trials and tribulations of football management, saying that he has a "new life" now.

"I made my decision. The timing was perfect. There is no way back for me now. I've got a new life.

"I want to go to the Kentucky Derby and the US Masters, the Melbourne Cup. I want to visit vineyards in Tuscany and France.'

In the hour-long interview broadcast in America on Tuesday night, Ferguson went on to reveal that he was approached by Chelsea in 2003, soon after Roman Abramovich took over at Stamford Bridge, but it was quickly rebuffed.

"They used an agent to approach me when Abramovich first took over the club," he said. "And I said no chance."

Moyes and his United side visit Ukraine tonight for a crucial Champions League group stage fixture against Shakhtar Donetsk.