Ferdinand announced on his Twitter account that he passed a medical and was en route to sign his contract:
Ferdinand later confirmed on his Twitter account that the deal was done:
QPR also shared a Vine of the defender putting pen to paper on the contract:
Terms of the contract have not yet been disclosed.
Ferdinand appeared in more than 450 matches for United. The stability and consistency he provided in the center of defense was vital to the club's immense success over that time. He contributed to six Premier League titles and a Championship League title during his time at Old Trafford.
Fox Soccer notes he ended up winning a total of 15 trophies with United:
Although that prosperity deserves plenty of praise, the fact was Ferdinand wasn't making the same type of contributions over the past few seasons. A combination of injury issues and depth along the Red Devils' back line lessened his impact.
In turn, United decided against offering him another contract extension. The time had come for the club to move in another direction, even though the veteran was still capable of providing leadership and solid play at the back.
Sky Sports provided comments from Ferdinand about the exit:
I have thought long and hard over the last few months about my future and, after 12 fantastic years playing for what I regard as the best club in the world, I have decided the time is right for me to move on.
I joined Manchester United in the hope of winning trophies, and never in my wildest dreams could I have imagined how successful we would be during my time here.
He will go down as a club legend, but it sounds like there was a mutual agreement between him and the club to part on peaceful terms.
Now that he's officially moved on by signing with a new club, the question is exactly how much of an impact he can make next season.
There were times during the latter stages of his United career when Ferdinand was still able to showcase good form. It just didn't happen on a regular basis as it did in the past, which forced the Red Devils to look in other directions for central defense.
Yet, with a fresh start for a side that doesn't feature quite as many options, perhaps the 35-year-old longtime England international can enjoy a resurgence—perhaps not all the way back to his peak seasons, but at least to the point where he's a key contributor at the back.
Ferdinand obviously believes he can still be a productive player or he could have decided to retire. And joining a new club usually reinvigorates a player, especially one like Ferdinand, who spent such a long period of time in one place.
Only time will tell if he is able to turn back the clock to perform like a top defender again, even for a while. But even if he doesn't, his legacy is already in place as an elite Premier League defender and one of the best to ever suit up for Manchester United.
For now, it's on to another chapter of his career.