The midfielder will start immediately but continue playing.
Ryan Giggs has been appointed as a player/coach at Manchester United with immediate effect as new manager David Moyes continues his backroom staff overhaul.
The United legend has been taking his coaching badges and is due to get his UEFA Pro Licence next summer – meaning the 39-year-old will be able to officially become a manager.
“It’s no secret that I have been taking my qualifications and I see this as the first step in my future career,” Giggs was quoted in the Guardian.
“I’m really looking forward to working alongside David and the team.”
Coaching under Moyes at Old Trafford will certainly provide great experience and the Welshman could be joined by former team mate Phil Neville in the near future.
Neville was a product of the Red Devils youth system and spent 11 years in the first team before departing for Everton in 2005 and played for eight seasons under Moyes.
The links with both United and the Scot seems to make a move for the former Toffees captain back to his boyhood club a simple decision to take, after the 36-year-old retired from playing at the end of last campaign.
Giggs meanwhile becomes the fourth coaching acquisition under Moyes, with Everton assistant manager and coaches Steve Round, Chris Woods and Jimmy Lumsden linking back up with the 50-year-old on Monday.
The new boss is really starting to put his own stamp on the club following the retirement of Sir Alex Ferguson after nearly 27 years in charge and Moyes is clearly pleased to have secured Giggs.
“I’m delighted that Ryan has accepted the chance to become player coach,” the former Toffees manager said.
“His success and ability to adapt his game over a number of years gives him an unrivaled perspective on the modern game.
“His career is an example to any aspiring young player and I’m sure that both he and the players will benefit from his new role.”
The United stalwart has been at the club for 25 years, making an incredible 940 senior appearances and winning 13 league titles, four FA Cups and two Champions Leagues.