The Old Trafford chief decided to cut his losses on the midfielder and sell him to Chelsea in a £15 million deal, a loss of some £13.1 million on the fee they paid Lazio two years ago, and has now conceded that Veron failed to live up to expectations during his time with the Red Devils.
"Juan Veron was capable of exceptional football and was talented. But, at times, he found the Premiership a bit difficult," declared Ferguson.
"He was a European player and that was where we got our best form from him."
The Scot also claimed that Veron was well aware of his proposed move to Chelsea from the moment rumours began to circulate of the West Londoners' interest in him, but stated that the player did not want to depart United.
"He didn't want to go. His agent was speaking to Chelsea and he knew it was happening.
"We had to look at the long-term view and, overall, the package we received was too good to turn down."
Fergie also went on to reject claims that his squad had been substantially weakened with the exit of Veron and David Beckham, and insisted the team which emerged as Premiership champions last term was still intact and would continue their impressive pre-season form in Sunday's Community Shield clash with Arsenal.
"The team that won at Newcastle, drew at Arsenal and beat Liverpool is still here. And I am not necessarily looking to change that team, either.
"The team that operated at the end of last season is fully ready to go out at the beginning of this season.
"In the past, we have not looked at this game (Community Shield) as being a great demand on our players but more as an opportunity for them to get their fitness up.
"That is because, in the past, we have always had rather low-key pre-seasons.
"But this pre-season has been different altogether because there has been a great competitive element to our game due to the quality of the opposition.
"And I fully expect us to be a bit further ahead than we normally are at this stage.
"We will be sharper than normal on Sunday for this game."
