Paul Scholes: Back at United to assist Ryan Giggs

The Red Devils released the following statement via Twitter: "It's great to see Paul Scholes at the training complex here today assisting Ryan Giggs, Nicky Butt and Phil Neville."

Scholes, 39, is a legend at Old Trafford having come through the United youth ranks and made over 700 appearances for the first team.

Now, following David Moyes' sacking on Tuesday, Scholes has joined incumbent coach Phil Neville and Nicky Butt in assisting their former team-mate Giggs in his attempts to end a miserable season at Old Trafford on a high.

Butt had recruited Scholes earlier in the season to offer his expertise to the U19 squad on a non-contract basis.

Giggs, Neville, Scholes and Butt are all graduates of the famed 'Class of '92' which helped bring the club much of the success they enjoyed under Sir Alex Ferguson.

Scholes coached at the club for six months when he first retired from the playing staff in 2011.

Ferguson managed to persuade the midfielder to come out of retirement the following year and he then hung up his boots for good last summer after Ferguson left.

Moyes tried to persuade Scholes to join his backroom staff at the start of the season, but he failed.

While Giggs has taken charge on an interim basis, it is believed that he will not be considered as a full-time replacement for Moyes.

Netherlands coach Louis van Gaal remains the favourite with Sky Bet at 5/6 but Carlo Ancelotti's odds have also been cut to 4/1 from 33/1 after the Real Madrid boss was linked with the post in a number of newspapers.

Ray Wilkins was Ancelotti's assistant during his time at Chelsea and believes he would be a great appointment.

Wilkins told Sky Sports: "The name that jumps out at me is Carlo Ancelotti.

"The Copa del Rey is not enough for Real Madrid, so if he doesn't win La Liga or the Champions League, he may become available. He speaks English, knows the Premier League and I think he would be ideal."

Van Gaal's credentials, meanwhile, have been endorsed by endorsed by Sky Sports' Spanish football expert Guillem Balague, who said: "He suits Manchester United down to the ground. The timing is perfect."