Red Rio

The England star passed a medical and sealed his protracted move across the Pennines, to the delight of the Old Trafford outfit, on a five-year contract.

Chief executive Peter Kenyon revealed that £33.3 million is the total amount of the deal, with Leeds getting £15 million immediately and £30 million overall.

Sir Alex Ferguson revealed it was a case of third time lucky after trying to sign Ferdinand as a 17-year-old, and then rejecting the opportunity to join the bidding when the player headed for Leeds.

"The realisation of getting him after first trying years ago is great," said Ferguson.

"First and foremost, he is potentially a great player and you think about how you get him here.

"I knew it wouldn't be easy but we've got to the end of it and I'm delighted because he's going to be a fantastic player.

"The board wanted him as much as I did. It was fairly obvious, Rio's talents, and who wouldn't want him at Old Trafford? This made it easy for me so I've enjoyed my holiday!

"I think a transfer like this one had to be difficult because Leeds are a big club and one of our fiercest rivals, and he had four years left on his contract. These were massive hurdles. We were hopeful because of Leeds' financial situation and I think Peter Ridsdale has admitted that himself.

"The most important thing was Rio wanted to come here and that contributed to the deal.

"It was a long road to get where we are today.

"The improvement is the vital organ here as, at 23, he has great potential. What we know is we are confident he will mature into the best centre back in the world. His physical assets and ability on the ball have always been obvious.

"We tried to get him as a 17-year-old because we knew the attributes were there. We had the opportunity when he went to Leeds but it was bad timing and the situation was not ready for us, but I think, in the next three or four years, we will get great service.

"He will mature into having authority. He will become an outstanding player.

"I will enjoy my next three years better now!"

When asked if he feels this could be the last of football`s big money transfers, Ferguson added: "It's pointless talking about the size of the fee because something incredulous could happen in a month's time but football is a vibrant industry although some clubs, particularly in Italy, are feeling the pinch but we run the club in a healthy way.

"You look at age, nationality, position and potential and it is easy after that.

"We tried to buy him when he was 17. West Ham said 'no'. I phoned Mel Machin, the Bournemouth manager, and said we might be able to give you some money but he said he was on loan from West Ham.

"When he went back, we made a bid. Mel raved about him and I am very friendly with him.

"But it was a straight 'no' from West Ham - I don't think we even got around to talking about figures."

When asked to comment on why he did not challenge Leeds for his signature, the Scot added: "We had Ronny Johnsen, Jaap Stam and Wes Brown at the time but things changed. Mid-season signings are not always suitable to me anyway - I've never done a lot as they are normally summer things for us."

Ferguson feels Ferdinand can learn from the experience already at Old Trafford, commenting: "Laurent Blanc is a fantastic professional and his presence in the dressing room will be recognised by Rio. Any young player will learn a lot from him. But Rio's own drive and ambitions are good."

Ferguson was asked if he plans another spending spree, but he evaded the question, adding: "Let me recover first before deciding whether to bring in more players this summer.

"Rio's first game will probably be in the Amsterdam tournament as he has not had any training sessions yet. He is a couple of sessions behind. It will be a push to get him ready for August 14.

"We are trying to improve ourselves and we have every right to do that, despite what people think, and there is nothing wrong with that - it does not matter how you view Manchester United.

"We were disappointed last year and hope to make amends for that next season and Rio is part of that."

Ferdinand admitted it was a tough decision to leave Leeds, but he is looking forward to linking up with his new team-mates.

"I am delighted to be here," he revealed. 

"I am leaving a great club in Leeds and fully appreciate what they have done for me as they gambled when maybe not many would have done.

"They have brought me on as a player and I made this decision with friends and family - it is a step in improving me as a player. It is a bold step but I am just happy to be here.

"It wasn't an easy decision but opportunities like this don't come around all the time.

"I didn't want to be sitting down at the end of my career thinking I didn't do this."

Ferdinand is determined not to let the fee affect him, saying: "Nothing at all is on my shoulders. I was in a similar position when I left West Ham for a lot of money.

"This is the only day I will speak about the fee and it won't play on my mind at all.

"The whole team will have to play well next season but I know the boys are as hungry as ever and to be joining somewhere with hunger like that is a great step for me.

"I knew before how good the United players were. I've come to another club with great players as Leeds had them too. Playing with Juan Sebastian Veron and Roy Keane would have been beyond my wildest dreams in the past.

"I'd like to say a big 'thank you' to the Leeds fans for their support - they were always behind me. I am happy I went there as they helped bring me on as a player.

"I have come here to improve as a player, that was first in my sign-off list. I aim to do that.

"I want to fulfil every bit of potential I have got. I am definitely committed to the long-term future as I want to win trophies and feel I can do that here.

"I saw a couple of the younger lads like Kieron Richardson who I spoke to when I was doing my medical. I saw 'Becks' (David Beckham) earlier and he hasn't changed his hairstyle, but he was alright

"My brother and agent gave me their opinions but it was down to me at the end of the day. I'd like to thank my family and friends and my agent for helping me to make the right decision.

"It wasn't really stress," he admitted, when asked why he did not travel on Leeds' pre-season tour. 

"It was a bit of a strain but it was a long trip and I think a few players had pulled out for personal reasons.

"It was neither here nor there for me and I felt it was the best position to take myself. I had no contact with Manchester United at that point. It was a personal decision and one that I would still stand by today.

"Who knows what the reception will be at Leeds, hopefully it will be like the one I had at West Ham, but we will have to see.

"United have dominated for a long time and it seems like they want to continue that dominance. Everyone works hard and has the hunger and I wanted that."

Kenyon added his support to the record move.

"Rio is 23, British, and represents the next generation of great footballers and we think that bodes well for the future of Manchester United," he stated.

"We are jointly delighted."