He will follow in the footsteps of John Henry Davies and Matt Busby in taking up the non-executive position.

Edwards was chief executive of United for 20 years from 1980, during which time he attracted widespread criticism for his attempts to sell the club to Robert Maxwell, Michael Knighton and latterly Rupert Murdoch-owned satellite broadcaster BSkyB.

While admitting he regretted the Knighton affair, only last month Edwards insisted if the deal with BSkyB had gone through instead of being blocked by the Monopolies and Mergers Commission following a massive public outcry, United would now be able to compete with big-spending Real Madrid in the transfer market.

But Julian Spencer, chairman of the Independent Manchester United Supporters’ Association, said: “I find it strangely perverse that Edwards, a man who has tried to sell the club on more than one occasion, should be afforded a position of such prestige.

“I am struggling to think of anyone less fitting to represent the name of Manchester United.

“How he can be judged fit to take up a post held not many years ago by Sir Matt Busby is beyond me.”

Manchester United shareholders also questioned the decision, with Oliver Houston, spokesman for www.shareholdersunited.org, branding the decision “bizarre”.

He continued: “Perhaps United fans will one day look back on this bizarre decision and say Martin Edwards was the ideal person to have been given the exulted title of president – or perhaps they won’t.”