After months of speculation linking him with the Spanish giants, the 23-year-old confirmed in an interview with Portuguese newspaper Publico on Thursday he would be staying at Old Trafford for at least another season.

It was Ferguson who offered Ronaldo the chance to play for United at just 18 and who also flew to Portugal for a heart-to-heart with the winger in July after he made it clear he was contemplating a move to Spain.

And Ronaldo admits it was Ferguson who persuaded him he did have other mountains to climb with the Red Devils after all.

"It makes me proud to know how much he thinks of me. And he knows I feel exactly the same way about him," said Ronaldo.

"Sir Alex Ferguson has been one of the most important people in my playing career, not only because of what I have learnt in sporting terms but also in human ones as well.

"I love the passion he has for football. If it were humanly possible I would always like to have him by my side, which shows how much affection, admiration and respect I have for him.

"He has always been like a second father to me at Manchester United and I know he will understand that there are times when a father has to worry only about what is best for his child."

Ronaldo added that Real are still an attractive long-term proposition, and not only because they are the club he dreamed of playing while growing up in Madeira

"I will continue to admire Real Madrid, as I have done since I was a boy," he said.

"What I said publicly, which was maybe a little naive, I take total responsibility for.

"But why lie? I am not going to be a hypocrite and say the opposite of what I think like some others do.

"I said exactly what I thought: I have a dream of playing at Real and I thought it was time to move on. People can't be upset about me fulfilling a childhood dream.

"Everyone realises that Spanish and Portuguese culture and lifestyle are more similar.

"After we had won the Champions League, I felt that in five years I had helped United to win everything there was to win.

"I felt that maybe I needed a new challenge. Manchester United and Real are probably the two biggest clubs in the world and it would never be an easy decision to make but I felt maybe this was the right moment."

Against that backdrop it is astounding Ferguson should succeed in persuading Ronaldo to extend his Old Trafford stay into a sixth season, especially as trusted assistant Carlos Queiroz will now work more extensively with Ronaldo as Portugal boss.

Yet that is exactly what the Glaswegian has done, at best offering United another chance at keeping him next summer, at worst buying some time to find a replacement as well as getting a fully committed player next season.

"Manchester United is a club that will always be dear to my heart," Ronaldo said.

"It is no sacrifice for me to stay, it is a great honour.

"I have important things to win in England. I will give everything I have to defend the European title and help United become world champions, not forgetting the Premier League and other competitions.

"The high point of my career was winning the Champions League.

"No-one will ever erase that from my memory, in the same way that no-one will ever erase the fact that I did it in a Manchester United shirt.

"I never wanted to leave against Manchester United's will.

"When they turned down the offer from Real Madrid, the people at United made it very clear how much they wanted me.

"I did not fully understand it at the time, but now I can really appreciate it."

Real Madrid coach Bernd Schuster described the news of Ronaldo's decision to stay in England as a "shame", but has urged his club to put the matter behind them and focus on the squad already in place.

"You have to respect his decision," admitted Schuster.

"He was free to do what he wanted and it's a shame that he isn't coming to us because he's a player who would really have improved this great group.

"But hey, it doesn't matter. We've got a great group to get started on an important league campaign and fight for all the objectives we've set.

"It's a decision we have to accept."