Rooney looked set to leave Old Trafford after statements issued by both himself and Ferguson confirmed speculation he did not wish to sign a new deal with United but a dramatic U-turn today saw him pen a new five-year contract.

One of the reasons given by Rooney for failing to agree terms was a lack of guarantees about investment in the squad, something that appeared to cast a negative light on Ferguson's recent acquisitions.

Ferdinand is delighted his England team-mate is once again committed to the club but suggested his concerns over transfers were unfounded.

"Obviously it's been an awkward couple of days and the club have done a fantastic job putting this to bed as quickly as we have," Ferdinand told MUTV.

"I think Wazza (Rooney) knows he's a Manchester United player, he knows this is where he's best. He's seen players leave and talk about regretting it and he's come to the true way of thinking which is that this is the best place for him.

"Wazza wanted questions answered and he obviously got the right answers, which is good for the club.

"He's made his mind up that he wants to stay and we're happy as players, I'm sure the fans will be and the manager is too."

The central defender added: "Wayne's a big part of the success we've had in the last few years but it's never down to one individual and the manager always states that.

"The manager is probably the most successful British manager there has ever been, we trust and believe in everything he does, the players he signs and the players he chooses to bring from the youth team.

"We trust his judgement and he's never seen us wrong so far so there's no reason to doubt him in any way, shape or form."