Woodward announced his resignation as manager of Manchester United at 9 p.m. last night after the New York Stock Exchange had closed.
The 49-year-old would be forever linked to the Glazer family's purchase of Manchester United in 2005 when the former JP Morgan banker helped leverage the club into the hands of the Americans.
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Woodward took over the club in 2013 after David Gill stepped down as CEO in the same summer that Ferguson resigned.
United has struggled to win the Premier League in any of the eight seasons since, and Woodward's failure in the transfer market has been generally ridiculed, with the club costing over £1 billion in that period and struggling to win either the domestic league or the Champions League.
Ferguson became a diplomat after retiring, and many fans believe he has been wrongly maligned in the eight years since stepping down as manager.
Ferguson has not been interested in any management appointments, nor has he been briefed on promotions or the club's strategy.
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He was kept in the dark about United's intentions to join the European Super League and spoke out against them on Sunday night.
According to the Athletic, Ferguson now has more resources within the club as a result of Woodward's departure, and he is being backed for a more important role at Old Trafford.
Ferguson spoke with Jude Bellingham at Carrington while United were attempting to persuade the then-Birmingham ace to transfer to Old Trafford, and although his attempts were futile, it is believed the club could further use the Scot's status and prestige inside football.
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