Sir Alex Ferguson insists that he will not return to management with Manchester United , or anyone else, and says David Moyes "will be fine".
In an interview with American TV station PBS, Ferguson addressed the possibility of returning to the Old Trafford dugout, should Moyes leave in the near future.
"I'm not interested in managing again or getting myself worked up about Manchester United's results," Ferguson said.
"United are in good hands with David Moyes. He will be fine. He's a good manager.
"You would be throwing your money down the drain if you put any money on me coming back as a manager.
"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 the Kentucky Derby and the US Masters, the Melbourne Cup. I want to visit vineyards in Tuscany and France."
Ferguson also confirmed that Chelsea attempted to lure him to London in 2003.
He said: "They used an agent to approach me when Abramovich first took over the club, and I said no chance."
Ferguson also praised Wayne Rooney for his return to form, whilst repeating a claim the United striker's camp has always denied, namely that he asked for a transfer towards the end of last season.
The former Red Devils chief, whose autobiography is due to be released later this month, also gave an insight into the managerial techniques that brought him so much success over his long career.
"Never hold a grudge, it's very important," he said, adding: "I always say to them [the team] at half-time, the last 15 minutes - throw the kitchen sink."