New Delhi :In a turnaround to his earlier decision to quit Manchester United, troubled striker Wayne Rooney has now signed a new 5-year contract with the 'Red Devils' that will keep him at Old Trafford till 2015.
Manchester United manager Sir Alex Ferguson has said that he is delighted that Rooney has decided to stay on.
After holding talks with United, Rooney says he is "delighted to sign another deal at United ... I've talked to the manager and the owners and they've convinced me this is where I belong."
Earlier Thursday, Manchester United manager Alex Ferguson held talks with the club's chief executive David Gill and Rooney's representatives but the club said afterwards there were "no developments" and asked fans to remain patient.
On Wednesday, Rooney said he was leaving because he believed United were no longer able to match his ambition by being able to compete in the transfer market for the world's best players.
Rooney's comments appeared to slam shut any chance of the striker being able to settle his differences with the club after Ferguson said on Tuesday the door was still open to a solution.
A furious Ferguson had reacted on Wednesday by telling reporters following United's 1-0 Champions League victory over Bursaspor that the club had called a meeting in order to "put the issue to bed".
But the club did not release any further details on why Thursday's talks had failed to resolve the issue.
Ferguson has not speculated on what course of action he may take but it seems likely that Rooney has played his last game in a United shirt and that the club will seek to sell him as soon as the January transfer window opens.
Rooney, the figurehead of the United team and one of the world's most talented footballers, had stunned his employers by breaking off negotiations over a new contract and informing them he wished to leave.
With only 18 months left to run on his current 90,000 pounds (140,000 dollars) per week deal, United are now likely to offload Rooney as quickly as possible before his value, around 50 million pounds (79 million dollars), begins to depreciate.
Rooney would be able to leave United for free if he saw out the remainder of his contract.
Most reports have said that Manchester City are the favourites to sign Rooney.
City, owned by Abu Dhabi billionaire Sheikh Mansour bin Zayed Al-Nahyan, would comfortably be able to pay both the 50-million-pound transfer fee and Rooney's salary demands, expected to be more than 200,000 pounds (316,000 dollars) per week.
Ferguson warned Rooney that any move to a new club was unlikely to be an improvement on United, where he has already accumulated eight major trophies in the six years since he signed from Everton as a teenager in 2004.
"Sometimes you look in a field and you see a cow and you think it's a better cow than the one you've got in your own field," Ferguson remarked.
"And it never really works out that way."
(With agency inputs)