Having picked David Moyes as United manager - even though the man had not won a thing in his entire life - he now backs Ryan Giggs to take over as Manchester United manager.
And Giggs revealed he had already been in touch with his former boss.
Giggs takes charge of United for the first time at home to Norwich on Saturday, having been placed in control on Tuesday in the wake of David Moyes' dismissal.
The United legend held his first press conference on Friday, when he admitted he had already started to lean on Ferguson for advice.
Giggs said: "He was the first person I picked up the phone to. Why wouldn't I? He's been everything you can as a manager - a young manager, an experienced manager, a successful manager.
"He's given me advice and told me he's always at the end of the phone so that has given me a lot of comfort. It's good to know I can turn to the manager if I ever need him."
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Ferguson feels Giggs has what it takes to succeed in the managerial ranks although he is not favourite to take over from Moyes on a permanent basis going into his weekend debut.
"I think that he [Giggs] is the one man they should go to really," Ferguson said at a charity dinner, according to the Daily Telegraph.
"He's got 20-odd years of experience at Manchester United. I signed him as a kid at 13 years of age. He's gone through the gamut of emotions at the club - he's experienced all the highs and lows.
"He knows exactly what's needed to be a Manchester United player and I was so pleased he brought Paul Scholes back in, and Nicky Butt of course - two great professionals.
"They understand the club, they are hard workers, they are straight as a die. So you have got the right combinations there, there's no doubt about that."