Media playback is unsupported on your device Media caption Ferguson unveils road in his honour

Former Manchester United manager Sir Alex Ferguson has had a street near the club's Old Trafford home renamed in his honour.

Waters Reach will now be called Sir Alex Ferguson Way. The 71-year-old was also awarded the Honorary Freedom of the Borough of Trafford.

He is only the third person to receive the honour from Trafford Council.

Sir Alex retired after winning his 13th Premier League title with the football club last season.

'Privilege and honour'

A ceremony, held at Trafford Town Hall, was attended by Sir Alex's family, friends and former colleagues including Sir Bobby Charlton.

Sir Alex, who also won two Champions League titles and five FA Cups during his 26 years with the club, said it had been an "incredible journey".

He said: "It's a privilege and an honour to have a road named after me, you don't expect these things in life and it encapsulates the 26 years.

"I thank everyone for being here - my friends, family and my wife and boss. She picked all the winning teams by the way."

Sir Alex Ferguson Way is close to another stadium approach road, Sir Matt Busby Way, named after one of his illustrious United predecessors.

The Honorary Freedom is the highest honour that the council can bestow and recognises an outstanding contribution to services in the borough.

Colin Warbrick, former leader of Trafford Council, received the Freedom of the Borough in 1999.

In 2011, the 207 Field Hospital received the accolade for treating injured military personnel overseas.