Paul Scholes will play on for another season at Manchester United, Sir Alex Ferguson has confirmed.
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After abandoning his retirement in January, there had been some speculation that the 37-year-old was deliberating whether to extend his career by an additional season.
However, speaking at Manchester United's Player of the Year dinner, Ferguson told MUTV: "It has been done. He is staying."
Ferguson does believe this will be Scholes' last season in a United shirt.
However, the United boss is convinced the midfielder can have a similar impact next season after he almost managed to guide the Red Devils to the title following his comeback.
"I am delighted," said Ferguson. "He knew he had made a mistake. He now realises if he plays 25 or 30 games next season, they will be of real quality.
"I think this will be Paul's last season. We know him very well. We have had him since he was a kid. We know how to use him."
Meanwhile, Wayne Rooney is looking ahead to next season and the chance to reclaim the title.
"Yesterday was a difficult day for everyone. One minute you think we have won the title, then we haven't, which was heartbreaking," the 26-year-old told MUTV.
"That is how it goes sometimes. We have to believe in ourselves.
"We have to look forward to next season and hopefully we can win some trophies next season. I am sure we will be back. We all believe in ourselves."
Rooney has no doubt where it all went wrong for the Red Devils as they tossed away an eight-point lead with just six games remaining.
"The biggest disappointment was the Everton game," he said. "To be 4-2 up, with 10 minutes to go and to lose that lead is disappointing.
"But there are a lot of young players in the team. That is only going to benefit them. They will learn from that."