Peterborough United Football Club have appointed Darren Ferguson as the club's new manager, penning a four and a half-year contract at London Road .
'We are both young and ambitious, towards the end of my last tenure I got a bit carried away. I have learned a lot. We were naive when we went back into the Championship last time and we are determined not to make the same mistakes again.'
Chairman Darragh MacAnthony said: 'Darren came to my house and we had a long chat. We have always had a lot of respect for each other. We are both ambitious, we have learned from the mistakes we have made and we are excited to get our project back on track. It is unfinished business. I want to work with Darren for a long time and that is why I have given him this contract.
'I love owning this football club, a lot of events have happened that have been difficult, but I have put my heart and soul into it. I want to be able to give this football club over to my son in the future. I want Peterborough United to be a club that everyone respects and that is what we are working towards.'