Darren Ferguson has signed a three-year deal to remain as Peterborough United manager beyond the end of the season.
He returned for a third spell in charge of the League One side after the sacking of Steve Evans in January.
The ex-Doncaster Rovers boss has previously led Peterborough to promotion on three occasions, and Posh are currently just two points outside the League One play-off places.
Ferguson’s assistant Gavin Strachan has also agreed on a three-year contract with the club.
In a statement on the club’s official website, Peterborough’s co-owners, Darragh MacAnthony, Jason Neale and Stewart Thompson said they were united in their decision to offer Ferguson a long-term deal.
‘This decision to appoint Darren on a long-term deal was a unanimous decision from us.’
‘The style of play, production of young players, taking on young and hungry talent and developing those players is what Peterborough United is renowned for and in the last 18 months we have veered away from that.’
‘Although the results on the pitch have not been anywhere near where we would have liked, it is not about the current form; it is about the long-term aspirations of this football club.’
‘Our aim is simple, we want to be a Championship football club, and we believe that this management team can get us there and once we are there we can stabilise before a tilt at the top end of that division.’
Posh were sixth when Ferguson was re-appointed, initially until the end of the current campaign, but a run of just two wins in nine games since then has seen them fall out of the play-off places to eighth.
The forty-seven-year-old Scot first took charge at London Road in January 2007 and led the club to back-to-back promotions from League Two to the Championship.
He left in 2009 but returned in January 2011 and guided them to promotion via the League One play-off final four months later.
Peterborough fans soon took to Twitter to respond to the announcement, and it is fair to say they were divided on the merit of the appointment.
Some welcomed the news and the club’s stated objective to look to the long-term while others questioned, bearing in mind the nature of recent results, the wisdom of offering Ferguson new terms. Here is a small selection of their responses.
Excellent news! Patience is key now, going to take a while to repair the previous manager’s damage.
— Steve Thorpe ?? (@leccymansteve) March 20, 2019
Early April fools? ?
— Adam Ireson (@AdamIreson) March 20, 2019
Joke of a club what’s he done sod all since he returned
— Tom Gutteridge (@Hammer198989) March 20, 2019
It's official , the lunatics have taken over the asylum
— Andrew Jordan (@ajjordan8) March 20, 2019
Delighted? ?????let's start preparing for league 2 then.
— LF? (@Liamutp) March 20, 2019
Defo a Jason neale statement. Some of the comments tho ? i think it’s a good appointment for the club as a whole. Fergi brought some of the best football to the club. The new owners want to bring stability. And makes this a sensible move. We are a small club. Could be worse off!
— Pusfc_Moose_Giraffe (@Pusfc_Giraffe) March 20, 2019
Come on give him a chance!! I know it looks like a backwards appointment but this isnt his squad. Let him bring in his own players then judge him! I will always back the club no matter what!
— Adam (@MrChazo) March 20, 2019
— Stefan.??????? (@forzapufc) March 20, 2019
Great news.Back to watching decent football next season.This season has been painful to watch. #UTP
— Martin Pughsley (@stivesposh) March 20, 2019