WAYNE Rooney has agreed a new five-year contract with Manchester United.

The club confirmed the news this lunchtime, ending an amazing week, which included Rooney insisting the Old Trafford outfit no longer matched his ambitions.

Yet after a staggering 24-hour period, and demonstration by irate supporters at Rooney's house in Prestbury last night, Rooney is now set to stay at Old Trafford.

"Sometimes, when you're in a club, it can be hard to realise just how big it is and it takes something like the events of the last few days to make you understand," said Sir Alex Ferguson.

"I think Wayne now understands what a great club Manchester United is."

It barely seemed credible such a position could be arrived at so quickly.

But the conciliatory nature of a holding statement from United last night suggested rapprochement was in the offing.

And, after consultation with the owners, who allayed his fears about the future direction of United, Rooney agreed to extend his contract, which will now expire in 2015.

"It's been a difficult week, but the intensity of the coverage is what we expect at Manchester United," said Ferguson.

"I said to the boy that the door is always open and I am delighted Wayne has agreed to stay.

"I am pleased he has accepted the challenge to guide the younger players and establish himself as one of United's great players.

"It shows character and belief in what we stand for.

"I am sure everyone involved with the club will now get behind Wayne and show him the support he needs to produce the performances we know he is capable of."