Unwilling to open old wounds, Ferguson said of allowing Stam's departure: "I sold Jaap to Lazio because of the money that the club could earn. His sudden departure had nothing to do with the publishing of his book.
"As manager I must look after the club's money. Lazio offered a lot of money and I gave into to that - I regret it.
"It was a huge blunder of mine - I don't make them often. Jaap was extremely popular with the fans, but every manager makes a bad decision at some time."
Stam started his career with DOS Kampen, before moving through the ranks in his homeland and winning a PSV switch. After United, he had mixed success, hampered by injuries and illegal steroid use, during stints with Lazio, Milan and Ajax. He retired in the later part of last year.
Paying tribute, Ferguson continued: "I admired in Jaap's game his speed, his enormous power and he had an exceptional sharp tackle. He also had a great mentality.
"He was always focused and he never slacked, even during training. Others could take an example from that. In one-on-one situations he was the best in the world; I have never worked with a better defender than Jaap Stam."
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