Rooney has signed a new five-year contract with Manchester United in a dramatic U-turn after saying he wanted to leave Old Trafford.
"I'm signing a new deal in the absolute belief that the management, coaching staff, board and owners are totally committed to making sure United maintains its proud winning history - which is the reason I joined the club in the first place," Rooney said.
"I'm sure the fans over the last week have felt let down by what they've read and seen. But my position was from concern over the future. The fans have been brilliant with me since I arrived and it's up to me through my performances to win them over again."
Sir Alex Ferguson added: “It’s been a difficult week, but the intensity of the coverage is what we expect at Manchester United. I said to the boy that the door is always open and I’m delighted Wayne has agreed to stay.
“Sometimes, when you’re in a club, it can be hard to realise just how big it is and it takes something like the events of the last few days to make you understand. I think Wayne now understands what a great club Manchester United is.
“I’m pleased he has accepted the challenge to guide the younger players and establish himself as one of United’s great players. It shows character and belief in what we stand for.
“I’m sure everyone involved with the club will now get behind Wayne and show him the support he needs to produce the performances we know he is capable of.”
The new deal ends a saga that has gripped the football world for a week and led to an angry mob surrounding Rooney's house on Thursday protesting his planned departure.
On Wednesday Rooney released a statement declaring why he intended to leave just over two hours before United were due to play Bursaspor in the Champions League.
“I met with David Gill last week and he did not give me any of the assurances I was seeking about the future squad," Rooney said in that statement.
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