Ferguson, Wenger have a total of 16 Premier League titles between them
Sir Alex Ferguson and Arsene Wenger, who are among the greatest football managers of all time, were inducted into the Premier League Hall of Fame on Wednesday.
The Hall of Fame recognises people who have made a significant contribution to the Premier League and is the highest individual honour awarded by the English top flight.
Ferguson is the most successful manager in Premier League history, with a record 13 titles, during his 27-year stay at Manchester United. He was the manger of the side for 21 Premier League seasons.
"I'm truly delighted to be inducted into the Premier League Hall of Fame. It's an honour when you receive recognition like this," Sir Alex said.
"However, it's not just about me as a person. It's about the job at Manchester United and the bond we had over many years, so I'm also proud for the club, the staff and my players.
"My job was to send the fans home happy. United's history and my own expectations were the things that drove me and I then had to try and develop all my players with the same expectations and make sure we could go out and achieve them.”
Meanwhile, Arsene Wenger's 22-season stay at Arsenal is a Premier League record.
He clinched the Premier League thrice and made history in 2003/04 as "The Invincibles" became the only team to win the title while remaining unbeaten throughout the entire season.
I am very grateful to have been selected for the Premier League Hall of Fame," Wenger said. "We always wanted to give something special to the fans and when you have players capable of remarkable things, the most important thing for me is the obligation of perfection.
"I'd like to be known as someone who loved Arsenal, who respected the values of the club and left it in a position where it can grow and become even bigger.
"To share this with Sir Alex is a great honour for me. It's like two boxers, you fight like mad and go the distance together. At the end of the day, you have respect and it will be a great opportunity to meet with him, share a good bottle of wine and memories of our old battles."
Premier League Chief Executive Richard Masters also shared his thoughts on this occasion.
"Sir Alex Ferguson and Arsene Wenger both made a remarkable contribution to the history of football in this country," he said. "They brought unparalleled levels of success to Manchester United and Arsenal respectively, raising standards and thrilling fans with a rivalry which resulted in an astonishing 16 title wins between them.”