Wes Brown was the subject of a Toon bid last January when he failed to agree a new deal with the Premiership champions, but he has finally agreed to sign a new contract.
Another player Kevin Keegan was interested in, Geordie born Michael Carrick, has also pledged his future to Man Utd.
Ferdinand has admitted it will be a proud day for him when he finally puts pen to paper on a new deal at Old Trafford.
Ferdinand: "It's nearly signed, nearly. We are still talking over a couple of things but I'm sure it will be sorted out before the end of the season.
"It will be a proud day for me, definitely, when I do sign a new contract.
"I'm enjoying my time at United, I love being here and that's not changed.
"Being part of a successful team is great and to be part of the tradition that goes along with that is an honour in itself.
"To have the opportunity to stay here for another four or five years would be fantastic."
Michael Carrick insists Manchester United is the only club for him after committing himself to a new long term deal at Old Trafford.
Together with Rio Ferdinand and Wes Brown, the Wallsend-born star only needs to sign the deal that has been agreed with Old Trafford chief executive David Gill and he is adamant there is no other club he would rather be at.
Carrick: "Manchester United is the best club. It is about the way we play and the size of the club; the whole set-up really.
"When you get here, you see how the club runs and what it is all about. To have the pleasure to play here is amazing."